Cairo – Mubasher: Firstrand Bank Ltd has reduced its stake in Alexandria Co. for Pharmaceuticals and Chemical Industries to 2.8% from 5.4%. 

The transaction involved the sale of 61,170 shares for EGP 8.1 million, averaging EGP 133.02 per share, according to a statement to the Egyptian Exchange (EGX) on Tuesday. 

In a separate statement, it is disclosed that the shareholder Khaled Abdullah Mohamed raised his stake in Alexandria Pharmaceuticals to 7.08% from 4.31% by buying 138,261 shares for EGP 18.39 million or EGP 133.02 per share. 

In fiscal year (FY) 2020/2021, Alexandria Co. for Pharmaceuticals and Chemical Industries reported net profits of EGP 131.47 million, compared to EGP 170.05 million in FY19/20.