Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) has approved a request submitted by UAE's Zeta Investment to amend its bid to acquire Alexandria National Company for Financial Investment.
The validity period of the offer has been extended for another 10 business days as of the date of the publication of the amendment, the FRA said in a statement to the Egyptian Exchange (EGX) on Wednesday.
Earlier, Zeta Investment requested to raise the offered price to EGP 6 per share instead of EGP 5.48.
Alexandria National Company for Financial Investment suffered net losses of about EGP 310,510 in the January-March period, compared to around EGP 597,500 in the year-ago period.
