Cairo – Mubasher: The board members of Cleopatra Hospital Co decided to propose a compulsory acquisition offer to purchase 100% of Nozha International Hospital’s shares.

The chairman of Cleopatra Hospital and the executive director, collectively or solely or delegating others, were authorised to perform the procedures required for this takeover offer and the company’s profile, according to a bourse filing on Wednesday.

Cleopatra Hospital’s board also approved the business plan and investment spending for fiscal year 2018.

The Egyptian Stock Exchange (EGX) has suspended trading on the stock of both Cleopatra Hospital and Nozha International Hospital until a report is received from the Financial Supervisory Authority.

Nozha Hospital has a capital of EGP 43.2 million distributed on 7.2 million shares at a par value of EGP 6 per share.