Cairo – Mubasher: Shareholder Naim Mohammed Ahmed Al Sabbagh has sold 70,000 shares in Arab Ceramic Co. - Ceramica Remas for a total value of EGP 7.66 million or an average price of EGP 1.09 per share.

Al Sabbagh’s stake in Ceramica Remas dropped to 4.99% from 5%, according to a stock exchange statement.

New Brent Securities acted as a broker in the transaction.

It is worth noting that in the first half (H1) of 2022, Ceramica Remas’ profits shrank by 57.60% on an annual basis to EGP 15.84 million, compared to EGP 37.38 million.

At the same time, the company’s sales totalled EGP 168.10 million in H1-22, a surge from EGP 166.22 million in H1-21.