Cairo - Mubasher: Compass Capital for Financial Investments has submitted a request to the Egyptian Financial Regulatory Authority (FRA) to amend the mandatory tender offer (MTO) submitted for acquiring up to 5.22 million shares or 100% of Alexandria National Company for Financial Investment.
The company requested to raise the offered price to EGP 6.12 per share instead of EGP 5.72, the FRA said in a statement to the Egyptian Exchange (EGX) on Sunday.
The request is currently under consideration by the FRA.
During the first quarter (Q1) of 2021, Alexandria National Company for Financial Investment suffered net losses of about EGP 310,510, compared to around EGP 597,500 in the year-ago period.
