Cairo - Mubasher: Zeta Investment has submitted a request to the Egyptian Financial Regulatory Authority (FRA) to amend the mandatory tender offer (MTO) submitted for acquiring 4.702 million shares or 90% of Alexandria National Company for Financial Investment.
The UAE-based firm requested to raise the offered price to EGP 6 per share instead of EGP 5.48, the FRA said in a statement to the Egyptian Exchange (EGX) on Monday.
The request is still under review by the FRA.
The validity period of the MTO extends from 15 June until 28 June.
Alexandria National Company for Financial Investment suffered net losses of about EGP 310,510 in the January-March period, compared to around EGP 597,500 in the year-ago period.
