Kharafi Construction reduces stake in Arab Aluminium
On 25th October’20, Arab Aluminum (ALUM) disclosed to the Egyptian Exchange that Kharafi Construction reduced its stake from 43.20% to 37.89%.
Kharafi Construction, a Grade 'A' General Contractor with the experience of executing major construction and infrastructure projects throughout Kuwait has sold 300,000 shares at EGP 30 per each, with a total amount of EGP 9 million.
MAK Holding for Industry sold its entire ownership for a total value of EGP 12.01 million in a September 28th transaction.
The aluminium producer, Arab Aluminium posted an 8.7% Y-o-Y decrease in its net profit during the first half of 2020.
Arab Aluminum is an Egypt-based company that specializes in extruding aluminium profiles for architectural and industrial applications. The company undertakes the activities of aluminium billet casting, dies, extrusion, alloys, painting, and anodizing.
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