139.4 million shares responded to the purchase of electrical cables



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Rana Mamdouh

The Egyptian Stock Exchange announced that the total initial quantities offered in response to the forced tender offer for the shares of exported electric cables totaled 139.437 million shares.

The stock market said in a statement that this value came at the end of the offer's validity period, which is today, April 17, 2019.

On April 11, EFSA approved the extension of the mandatory takeover bid by SAMO Consultancy and Fluorish Investment and Wadi Consulting to purchase 294,979 million shares of Egyptian electric cables for 5 business days as of today.

TRA reaffirmed its decision to allow the investment decision to be re-evaluated in the light of published data and information.

On March 6, EFSA agreed to publish the offer made by the consortium of Samo Consultancy and Fluorish Investment and Wadi Consulting to acquire 294.979 million shares of Egyptian electric cables representing 90% of the share capital at EGP 1.35 per share.

On March 10, the stock exchange announced in a statement that the offer was valid for 20 days from the trading session from March 10, 2019 until the end of the meeting on April 4, 2019.

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