Egypt’s MidFert Misr raises stake in Sheeni to over 12%

By Sama Mousa On Oct 17, 2023

Egypt’s MidFert Misr raised its 9.95 percent stake in General Company for Ceramic and Porcelain Products (Sheeni) to 12.27 percent on Tuesday.

The stake comes at a value of 9.09 million Egyptian pounds.

Midfert bought 1.17 million shares in the EGX-listed firm at a price of 7.76 pounds per share, according to a bourse filing.

Al Ahly Pharos was the broker for the transaction.

During the July 2022-June 2023 period, Sheeni recorded profits of 19.65 million pounds.

The company’s sales rose by 121 percent year-on-year (YoY) to 240.39 million pounds by the end of June, up from 198.64 million pounds.