FRA okays MTO for 90% of El Nasr
Updated 1/17/2021 4:44:00 PM
ArabFinance: El Nasr for Manufacturing Agricultural Crops got the Financial Regulatory Authority’s (FRA) go-ahead on a mandatory tender offer (MTO) submitted by a consortium of firms, according to a statement released on January 17th.
The consortium offers to purchase up to 90% of El Nasr at EGP 45 per share.
A consortium of Agricultural Production and New Smart Construction Company intended to acquire up to 7.07 million shares in the listed company.
El Nasr Manufacturing is an Egypt-based public shareholding company that operates in the food processing sector.
The listed firm is primarily engaged in the dehydration, distribution, and export of agricultural crops, including onions and other vegetables. The company is also engaged in the manufacture and export of dehydrating equipment and machinery.
