ARTOC Group, others acquire 5% of Sheeni shares at EGP 7/shr

Yasser Darwish, Investment Manager, at ARTOC Group for Investment and Development said that subsidiary ARTOC Auto, Filandwood Holding, Mohsen Mohamed Mohamed Moselhy and Ashraf Mohamed Mohamed Moselhy – affiliated group- have acquired more than 5% of General Co. for Ceramic and Porcelain Products (Sheeni) since June 30th. The top official stressed that the stake will likely be lifted to 10%.


According to a filing sent to the Egyptian Financial Supervisory Authority (EFSA) and The Egyptian Exchange (EGX), of which a copy was obtained by Al-Alam Al-Youm, ARTOC Group acquired 1.17 million shares through Watheeqa Securities Brokerage and Prime Securities. Meanwhile, Filandwood Holding purchased 766.6 thousand shares through the same brokerage houses. Mohsen Mohamed Mohamed Moselhy and Ashraf Mohamed Mohamed Moselhy bought 616.1 thousand shares and 65 thousand shares respectively through Watheeqa. Accordingly, the affiliated group bought a total of nearly 2.619 million shares at an average price of EGP 7 per share.