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Egypt : AMER GROUP announces EGP 1.28bilklion in BLOCK TRADING DEAL.

EGP 1.28bn of block trading has been carried on by the Egyptian Exchange (EGX) for over 876m shares of real estate company Amer Group at EGP 1.47 per share.

the EGX stated, The deal is as per the chairman of the EGX s decision to organise the mechanism for large volume transactions, known as block trading.The deal aimed to protect the market and its participants from the influence of the change in prices as a result of the huge trades that is traded in different prices from that of the market.

The shares were transmitted either to newly-established charitable company Al-Waqf Al-Masry or other companies owned by Mansour Amer, chairman and CEO of Amer Group.

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Publication:Mena Report
Date:Jun 17, 2014
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