EGX executes $424m MTO on Blom Bank Egypt’s shares

By Aya Abdulghany On Aug 9, 2021

The Egyptian Exchange (EGX) announced the execution of a mandatory tender offer (MTO) on the unlisted shares of Blom Bank Egypt.

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The MTO involved the trading of 298.62 million shares at a total value of $424.04 million, the EGX said in a statement on Monday.

Earlier, the Egyptian bourse revealed the details of the MTO submitted by Bahrain’s Arab Banking Corporation (Bank ABC) to purchase up to 300 million shares or 100% of Blom Bank Egypt.

Blom Egypt EGX