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Emirates Advanced Investments amends MTO price of Alex NMC

Emirates Advanced Investments amends MTO price of Alex NMC

Arab Finance: The Financial Regulatory Authority (FRA) has received a request from Emirates Advanced Investments to amend the offered price for the mandatory purchase offer (MTO) of Alexandria New Medical Center’s (Alex NMC) (AMES) to EGP 48.62 per share, according to a statement filed to the Egyptian Exchange (EGX) on September 19th.

The authority is currently studying the offer, under which Emirates Advanced is required to satisfy all the requirements included in the resolutions ruling the medical activities in Egypt.

On August 29th, the FRA approved the purchase offer submitted by the consortium comprised LimeVest Partners and Tawasol Holdings to acquire Alex NMC’s shares.

Alex NMC is an Egypt-based public shareholding company engaged in the provision of medical diagnostic and treatment services in various medical fields.

The company focuses on hospital operations, which consists of a range of medical specializations, including gynecology, general surgery, and pediatrics, among others.

 

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