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EGX halts trading on CI Capital's shares

EGX halts trading on CI Capital's shares
Banque Misr submitted an offer to acquire up to 652,800 shares in CI Capital
CI Capital Holding
CICH
-0.21% 4.79 -0.01

Cairo – Mubasher: The Egyptian Exchange (EGX) decided to suspend trading on the shares of CI Capital for Financial Investments.

Trading on the company’s shares will remain on hold until the Financial Regulatory Authority (FRA) publishes (FRA) a statement regarding the news circulating about the amendment to the purchase offer submitted by Banque Misr, according to a statement on Thursday.

Earlier, the FRA approved the publication of the mandatory tender offer (MTO) submitted by Banque Misr to acquire a controlling stake in CI Capital Holding.

Banque Misr submitted an offer to acquire up to 652,800 shares in CI Capital at EGP 4.7 per share to top up its stake to 90%.

In 2020, CI Capital reported consolidated net profits of EGP 474.6 million, down by 12.4% from EGP 541.75 million a year earlier.