Qatari dairy producer Baladna last week raised its stake in EGX-listed dairy company Juhayna to 15.03% after acquiring another 600k shares for around EGP 7.4 mn, the firm said in a disclosureto the Qatar Stock Exchange. Baladna first bought into the company in July 2021, after which it raised its stake to 5% in March 2022 and 10% two months later.

The Qatari firm paid an average price per share of around EGP 12.30— close to Juhayna’s closing share price of EGP 12.29 on the last day of trading before the Eid holiday, and around 40% more than Baladna paid for the shares it bought in May 2022.

Baladna is now the company’s second-largest shareholder: Pharon Investment — an offshore vehicle owned by the Thabet family — is Juhayna’s largest shareholder, owning more than 50% of the company, according to the most recent public data on its ownership structure. Dubai-based investment firm Rimco Investments holds almost 11%.

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