ArabFinance: TAT for Medical Services has informed the Financial Regulatory Authority (FRA) that it does not intend to proceed in the procedures of the authority’s non-objection issuance regarding the announcement publication of the mandatory purchase offer (MTO) of Alexandria New Medical Center’s (Alex NMC) (AMES) shares.

The company also requested to get the original bank letters that were submitted to the FRA under the MTO file, the FRA revealed in a statement filed to the Egyptian Exchange (EGX).

In June, TAT for Medical Services, a subsidiary of Alexandria Medical Investment Company, submitted a MTO to the FRA to acquire up to 100% or 14.274 million shares on Alex NMC at a price of EGP 49.04 per share.

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 the operation of a hospital, which consists of a range of medical specializations, including gynaecology, general surgery, and paediatrics, among others.