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21.6 mln shares offered in Sawiris-Beltone bid for EFG half an hour on last day

21.6 mln shares offered in Sawiris-Beltone bid for EFG half an hour on last day
EFG Holding
HRHO
-2.49% 17.65 -0.45
Beltone Holding
BTFH
-2.82% 3.45 -0.10
The total offered shares in the voluntary tender offer made by businessman Naguib Sawiris and Beltone Financial Holding for a 20% stake in EFG-Hermes amounted to nearly 21.6 million shares after the first thirty minutes of today; the last day of the tender offer’s validity.
These shares represent 18.8% of the deal’s value.
EFG-Hermes Holding announced on June 26 that the voluntary tender offer received from New Egypt Investment Fund and Beltone Financial for 20% stake in the company was extended till Sunday, July 6 instead of Thursday July 3.
Egyptian Financial Supervisory Authority (EFSA) had announced that the voluntary tender offer received from businessman Naguib Sawiris and Beltone Financial Holding for a 20% stake in investment bank EFG-Hermes at EGP 16 per share will start on June 22.
The market regulator approved the offer submitted by Sawiris-Beltone alliance to acquire 20% of EFG-Hermes at EGP 16 per share. EFSA Head Sherif Samy said the bidders stipulate that they shall fully acquire the stake in order to complete the deal.