Banque Misr’s offer to buy stake in CI Capital’s shares takes effect as of Feb. 14

SourceEgypt Today
SectorFinancial Services

FILE - Employees in the EGX following performance of the trading session on December 12, 2017 CAIRO – 14 February 2021: The Egyptian Exchange (EGX) said that the validity period of the offer submitted by Banque Misr to purchase up to 652.8 million shares, representing 90 percent of the capital of CI Capital Holding for Financial Investments starts from Sunday’s trading session, February 14, until the end of Thursday’s trading session, March 11, 2021 .   EGX clarified in a statement Sunday that the implementation is subject to the bidder obtaining a percentage leading to an increase in his current percentage in the target company to 51 percent or more, with the permissibility of waiving this condition.   It added that the offer price is LE 4.7 per share, provided that implementation will take place on the Egyptian Exchange during the five working days following the expiration of the offer period.     On February 8, 2021, The Egyptian Financial Regulatory Authority announced that Banque Misr intends to submit a purchase offer on the shares of more...