Cairo – Mubasher: A total of 19.87 million shares of El Kahera Housing Co. accepted a buyout offer from Pioneers Holding Company by the end of bid duration, according to OPR data.
The mandatory tender offer was valid for ten working days until Monday, 30 November.
The deal will be executed through EGX within five working days after ending the tender offer period at offer price of EGP 11.8 per share.
The buying offer has excluded a stake of 33.72%, currently owned by Pioneers Holding in El Kahera Housing as well as a stake of 31.81% that is owned by the company's shareholders that rejected the buying offer.
Last July, Pioneers board gave go-ahead to buy 100% of El Kahera Housing, at a purchase price of EGP 11.80 per share.
