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EGX reveals AUB's sales order for Egypt unit

EGX reveals AUB's sales order for Egypt unit

ArabFinance: Bahrain’s Ahli United Bank (AUB), alongside Misr Strategia, bought a total of 30,662,880 shares in Ahli United Bank Egypt (AUBE), according to an October 27th disclosure by the Egyptian Exchange (EGX).

The transaction value stood at a total of EGP 913,140,566, according to EGX.

AUB and Misr Strategia plan to purchase some 43,548,240 shares –equivalent to 14.5% of AUBE– at 29.783 per share. 

The public tender offer closed on October 22nd, according to a statement by Boursa Kuwait.

AUB earlier announced its plans to increase stake in its Egypt unit, yet it was subject to regulatory approvals.

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