Rolaco EGB Investment ups shareholding in MM Group to over 15%

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Cairo – Mubasher: Rolaco EGB Investment raised its 14.87% stake in MM Group for Industry and International Trade to 15.02%, according to a bourse disclosure.

The investment firm bought 1.46 million shares in MM Group for EGP 7.45 million, at an average price of EGP 5.07 per share.

It is worth noting that EFG Hermes was the broker for the transaction that was executed on 30 January 2023.

Rolaco EGB Investment recently hiked its equity ownership in B Investments Holding to 5.01% after purchasing 550,000 shares in the latter at a value of EGP 11.27 million.

In the first nine months (9M) of 2022, MM Group witnessed a 34.70% plunge in consolidated net profits to EGP 218.17 million from EGP 334.56 million in 9M-21, including minority shareholders’ rights.