The Egyptian Financial Supervisory Authority (EFSA) decided to freeze the stakes of Alexandria Medical Services Chairman Bavaguthu Shetty as well as Joseph Martin within the correlated groups.
The market regulator also prevented 75% of their stake in the capital from voting in the general meeting meetings.
This freeze will continue until they submit a mandatory bid to purchase 100% of Alexandria Medical Services.
The company operates with EGP 48.4 million capital, divided into 4.840 million shares at a par value of EGP 10 each.