Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the publication of the mandatory tender offer (MTO) submitted by Banque Misr to acquire a controlling stake in CI Capital Holding For Financial Investments.
Banque Misr submitted an offer to acquire up to 652,800 shares in CI Capital at EGP 4.7 per share to top up its stake to 90%, according to a statement to the Egyptian Exchange (EGX) on Thursday.
During the first nine months of 2020, CI Capital’s net profits reached EGP 330.77 million, down by 13% year-on-year (YoY) from EGP 381.06 million, including minority shareholders’ rights.
