[ad_1]
Orascom Investment Holding has asked the Egyptian Financial Supervisory Authority (EFSA) for permission to submit an offer to purchase a minority stake in Tharwa Capital Holding.
Orascom said in its letter to the stock market on Wednesday that the offer included either the acquisition of 216 million shares of Tharwa Capital at a price equivalent to the stock price of 7.36 pounds, ie Stock acquisition from 144 million to less than 216 million shares of Tharwa Capital. At 6.62 pounds per share, less than 10% of the stock price.
Orascom added that the offeror had the right to accept or refuse the purchase of the shares offered if the number of shares had risen to less than 144 million euros. shares for the offer of purchase, and we hope to obtain the approval of the Financial Supervisory Authority to submit the offer and continue the necessary legal proceedings.
In this context, EGX has decided to resume trading on Tharwa Capital Holding, Orascom Holding Investment, after the announcement of the offer letter.
Orascom Investment Holding, its largest shareholder is businessman Naguib Sawiris, while Tharwa Capital is headed by Hazem Moussa, son of Amr Moussa, former secretary general of the League of Arab States.
Source link
