Cairo – Mubasher: The Egyptian Exchange (EGX) announced the execution of a mandatory tender offer (MTO) on the shares of Modern Shorouk Printing and Packaging.
The transaction included the trading of 1.008 million shares for a total value of EGP 75.114 million, the EGX said in a statement on Thursday.
Earlier, Modern Shorouk Printing and Packaging has accepted the acquisition offer submitted by the National Printing Company at a price of EGP 74.5 per share.
The National Printing Company offered to acquire up to 1.07 million shares or 8.2% to top up its stake in Modern Shorouk Printing to 100%.
During the first half (H1) of 2021, Modern Shorouk Printing and Packaging posted 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.
