The Financial Regulatory Authority (FRA) has received a mandatory tender offer (MTO) from Amoun Real Estate Investment Company to acquire 65.59%, equivalent to 427.207 million shares, of Atlas for Investment and Food Industries at a price of EGP 0.78 per share.

Atlas for Investment and Food Industries (AIFI) recorded net losses attributable to the parent company of EGP 1.594 million during the first half (H1) of 2024, compared to net profits of EGP 1.064 million in H1 2023.

Atlas for Investment and Food Industries’ (AIFI) consolidated net losses after tax and non-controlling interest dropped by 75.29% year on year (YoY) in 2023 to EGP 276,608, compared to EGP 1.12 million.

Atlas for Investment and Food Industries (AIFI) recorded net profits attributable to the parent company of EGP 134,662 during the first nine months of 2023, compared to net losses of EGP 485,966 in the same period of 2022.

Atlas for Investment and Food Industries’ (AIFI) consolidated net profits attributable to the parent company dropped 31.49% year on year (YoY) during the first half (H1) of 2023.

Atlas, established in 1997 and listed in 2012, has four subsidiaries focusing on real estate, farm development, and agricultural processing.

Atlas for Investment and Food Industries (AIFI) has signed a memorandum of understanding (MoU) and a real estate development company to execute a cooperative real estate project on a 51,566-square meter plot owned by the former on Cairo-Alexandria desert road, kilo 43 in the area of Sheikh Zayed.