The clap
Sources to Al Mal reported concerns among investors of Ibnsina Pharma (ISPH) due to the freezing of the stake held by the Abdelgawad family, the company’s main stakeholders.
What
Abdelgawad family’s stake, which accounts for 13.48% was frozen after personal controversies surrounding the family.
So what
Despite sources & the company assuring investors that it’s business as usual at the company, & that the rumors relate to the Abdelgawad family on a personal level, it’s worth noting that ISPH shares fell more than 12% on Sunday, & rebounded partially yesterday.
Now what
ISPH clarified in a statement yesterday that the decision was implemented 7 months ago as a precautionary measure.
