The Egyptian Exchange (EGX) announced Thursday the execution of a tender offer submitted by Huxley Holding Ltd for 9597 shares in Cairo Investment and Real Estate Development at EGP 20.5 each, totaling EGP 196.738 thousand.
The stock exchange had announced recently that a total of 9.597 thousand shares were offered in the mandatory tender offer received from Huxley Holding Ltd for 11911613 shares, or 100% of Cairo Investment and Real Estate Development at EGP 20.5 per share.
The company had announced in February it reached an initial agreement with Huxley Holding Ltd, under which the latter would offer to acquire 100% in the company’s shares at a maximum price of EGP 20.5 per share.
Cairo Investment had reported EGP 10.3 million net profits in Q1-FY14, with increase by 16% from EGP 12.3 million in the same period a year earlier.
Standalone financial results for FY13 had shown EGP 12.93 million net profit, compared with EGP 11.67 million net profits in FY12.