Cairo – Mubasher: The Financial Regulatory Authority (FRA) announced the publication of a mandatory tender offer (MTO) submitted by the National Printing Company to acquire Modern Shorouk Printing and Packaging.
The offer includes purchasing up to 1.078 million shares, representing about 8.2% of the company's shares, for EGP 74.5 per share, the FRA said in a statement to the Egyptian Exchange (EGX) on Thursday.
It is noteworthy to mention that the National Printing Company currently owns 89.9% of Shorouk for Modern Printing.
During the first half (H1) of 2021, Modern Shorouk Printing and Packaging reported net profits of EGP 85.33 million, compared to EGP 82.95 million in H1-20.
The net sales increased to EGP 912.86 million in the January-June period from EGP 785.67 million in the corresponding period a year earlier.
