Cairo – Mubasher: AMN for industrial investment has increased its stake in Paint and Chemicals Industries (Pachin) to 10.60% from 9.93%.
AMN purchased 160,205 shares for EGP 4.64 million, averaging EGP 28.99 per share, according to a statement to the Egyptian (EGX) on Tuesday.
It is worth noting that in fiscal year (FY) ended in June 2022, Pachin incurred EGP 408,250 worth of losses, against profits of EGP 52.75 million in the previous FY.
During the July 2021-June 2022 period, Pachin's sales grew to EGP 860.24 million, compared to EGP 850.09 million a year earlier.
