Cairo – Mubasher: Pioneers Holding for Financial Investment said Sunday it submitted a buy offer for all shares of Universal For Paper and Packaging Materials.
The company added, in a bourse filing that the offer price stands at EGP 7.50 per share.
Universal is capitalised at around EGP 40 million, divided into 8 million shares at EGP 5 par value each.
Meanwhile, Pioneers is capitalised at EGP 2.8 billion and operates in financial services sector.
Pioneers owns direct and indirect stakes in more than fifty subsidiaries and sister companies, out of which nine are listed on Cairo bourse.
