Cairo – Mubasher: Orascom Investment Holding has presented an optional tender offer to the Financial Regulatory Authority (FRA) to acquire a non-controlling stake in Sarwa Capital Holding for Financial Investments.
Orascom Investment aims to acquire 216.03 million shares in Sarwa capital at an offering price of EGP 7.36 per share, or 144.02 million shares at EGP 6.62 per share, the FRA highlighted in a statement to the Egyptian Exchange (EGX) on Wednesday.
Orascom has the right to accept or decline the purchasing offer in case the shares amounted to less than 144.02 million, the Egyptian regulator indicated.
Earlier this morning, the EGX suspended trading on both Orascom Investment and Sarwa Capital.
On 15 October, trading on Sarwa capital’s stock commenced, opening the session at EGP 7.36 per share.
