Monday 13 Jan
Egypt's Financial Regulatory Authority (FRA) announced that Egyfert has received a notification from Nas Holding Company regarding its intention to submit a mandatory tender offer to acquire Egyfert, in accordance with the Abu Dhabi market regulations.
The FRA explained that the mandatory tender offer aims to acquire up to 90% of Egyfert's capital, allowing the company's shares to remain listed on the Egyptian Exchange. The offer price is set at 95 Egyptian pounds per share.
The FRA added that NAS Holding
and its related parties currently own 32.5% of Egyfert's capital, representing
3.12 million shares.
It is worth noting that Egyfert recorded
a net profit of 80.52 million Egyptian pounds from the beginning of January to
the end of September 2024, compared to 45.22 million pounds in profits during
the same period last year, taking into account minority interests.
On the other hand, the company's sales decreased during the first nine months of this year to 156.16 million Egyptian pounds, compared to 178.85 million pounds during the same period last year.
