MTO for 74.1% stake in Alex NMC to end September 27th

Updated 8/30/2022 10:33:00 AM

Arab Finance: The mandatory tender offer (MTO) for 74.08% of the shares of Alexandria New Medical Center’s (Alex NMC) (AMES), or 11.536 million shares, will be effective for 20 working days ending September 27th, according to a disclosure on the Egyptian Exchange (EGX) on Tuesday.

The offer is presented by the consortium comprising LimeVest Partners and Tawasol Holdings with for a minimum stake of 51% at a price of EGP 47.67 per share.

The execution of the transaction will be carried out within five days of the last date of the offer's term.

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.