Nile Cotton, a subsidiary of Holding Company for International Trade and Cotton, is an Egypt-based public shareholding company that operates in the cotton and textiles sector. The unit is primarily engaged in cotton ginning, trading, and exporting.
EGX announces start date of IMEX International's MTO on Nile Cotton Ginning
Updated 9/10/2020 2:11:37 PM
ArabFinance: The Egyptian Exchange (EGX) announced that IMEX International Company’s mandatory tender offer (MTO) submitted on Nile Cotton Ginning Company's (NCGC) shares will last for 10 business days starting September 13th till September 24th, according to the EGX's September 10th disclosure.
IMEX International will purchase NCGC's share at EGP 50 per each.
IMEX International aims to acquire 100% of NCGC’s capital – the equivalent of 52,992,500 shares – or a stake not less than 50%.
The MTO will be executed after five business days from its ending date.
