The Egyptian Starch and Glucose Administration agrees to sell the shares of the major shareholders

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The Egyptian Starch and Glucose Administration agrees to sell the shares of the major shareholders

Sunday, 26 April 2020 14:22

Salah Al-Din Abdullah

The board of directors of the Egyptian Starch and Glucose Company approved the purchase offer submitted by Cairo Three A International Industries to purchase the shares of the main shareholders of the company.

The company said in a statement to the stock exchange, that the board of directors approved the offer made by Cairo ThreeA to buy shares owned by the main shareholders of the company’s capital amounting to 50.077 million shares at a purchase price of 8.61 pounds per share.

The Board of Directors stressed that the offer will have a positive impact on the company and its employees, and shareholders wishing to exit can respond to the offer in the light of their own investment decision, especially in light of the current conditions and low asset values ​​as a result of the Corona pandemic.

He pointed out that the offer price is consistent with the average share price for the last three months and its price has risen from the current trading price

For the stock.
It is noteworthy that the financial supervision agreed to publish the mandatory tender announcement submitted by Cairo Rich International Company for Industries to acquire the Egyptian Starch and Glucose Company.

The period of validity of the compulsory purchase offer begins from the day following the date of the announcement of the offer, starting from today, Sunday, until the end of the trading session on Thursday, May 7, and the minimum implementation of the purchase offer is up to 25.5 million shares, representing 51% of the shares of the company targeted by the offer. .







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