The Egyptian Financial Regulatory Authority (FRA) said Banque Misr has submitted a draft mandatory tender offer (MTO) 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 to top up its stake to 90% at EGP 4.7 per share, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
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The offer is still under the authority’s consideration, the statement showed.
