Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the publication of the mandatory tender offer (MTO) submitted by Compass Capital for Financial Investments to acquire Alexandria National Company for Financial Investment. 

The offer includes the acquisition of up to 5.22 million shares or 100% of Alexandria National Company for Financial Investment at EGP 6.12 per share, the FRA said in a statement to the Egyptian Exchange (EGX) on Thursday. 

During the first quarter (Q1) of 2021, Alexandria National Company for Financial Investment suffered net losses of about EGP 310,510, compared to around EGP 597,500 in the year-ago period.