Cairo – Mubasher: Alexandria National Company for Financial Investment has received an offer from Zeta Investment, an Emirati company, to acquire 90% of the company's capital.

The Emirati company has offered a price of EGP 5.51 per share to hold 90% of the capital of Alexandria National Company for Financial Investment, according to a bourse filing on Tuesday.

Zeta Investment will keep the shares of Alexandria National Company listed on the Egyptian Exchange (EGX), Abu Dhabi Islamic Bank - Egypt (ADIB) said in a separate statement.

Abu Dhabi Islamic Bank - Egypt owns an 84.99% direct and indirect stake in Alexandria National Company.

It is noteworthy to mention that during the first nine months of 2020, the company reported net profits of EGP 5.93 million, against net losses of about EGP 421,610 in the corresponding period a year earlier.