Cairo – Mubasher: The Financial Regulatory Authority (FRA) announced that the National Printing Company has raised its bid to acquire 100% of Modern Shorouk Printing and Packaging.

The purchase price in the mandatory tender offer (MTO) has been raised to EGP 74.5 per share based on the fair value estimation from EGP 56.7, the FRA said in a statement to the Egyptian Exchange (EGX) on Wednesday. 

The National Printing Company currently owns 89.9% of Shorouk for Modern Printing.