The Arab Banking Corporation (ABC) has submitted an offer to buy up to 300 million shares representing 100% of the issued capital of BLOM Bank – Egypt at EGP 22.33 per share.
In a statement on Monday, the Egyptian Exchange (EGX) said that the execution and settlement currency is equivalent to $1.42 per share.
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The validity period of the MTO extends for 10 days starting from the next day following the publication date of the MTO until the end of the trading session on 5 August.
In January, Bank ABC announced signing an agreement with Lebanon’s Blom Bank to acquire its 99.4% stake in Blom Bank Egypt for EGP 6.700 billion.
