04:15 PM
Sunday, December 25, 2022
I wrote – Sherine Salah:
The Oriental Weavers Company revealed, in a disclosure to the Stock Exchange today, Sunday, that each of Yasmine and Farida Mohamed Farid Khamis sold their shares, estimated at a total of 24.6%, in the company to “FKY limited”.
According to the company’s disclosure to the Stock Exchange today, Sunday, the number of shares sold reaches regarding 163.7 million shares, at a value of regarding one billion and 375 million pounds.
The disclosure indicated that the value of the Oriental Weavers Company share in the deal amounted to EGP 8.40.
It was stated that Yasmine Mohamed Farid Khamis sold 12.31% of her stake in the company, at a value of 687.7 million pounds, and Farida Mohamed Khamis sold 12.31% of her stake in the company, at a value of 687.7 million pounds, so that her two shares in the group following the implementation of the deal became zero.
The share of Oriental Weavers fell by 4.71% during Sunday’s trading session, to 9.91 pounds per share.
Oriental Weavers, one of the largest carpet manufacturers in the world, has been operating in the floor covering market for more than 30 years. Oriental Weavers owns factories in America and China, and sells its products to more than 130 countries.
