Arab Finance: Cairo Housing and Development Company (ELKA) has submitted a mandatory tender offer (MTO) to acquire around 50.87%, or 133 million shares, in United Housing and Development (UNIT) via a share swap at a 3:1 ratio, the Financial Regulatory Authority (FRA) stated.

This acquisition will bring Cairo Housing’s total stake in United Housing to 90% by exchanging 399 million shares of the former.

On September 2^nd, Cairo Housing’s board approved submitting an MTO for purchasing up to 90% of United Housing via share swap.

The MTO is pending the FRA's approval. 

Cairo Housing is an Egypt-based firm engaged in real estate and housing development operations.

The listed company’s main activities include acquiring, selling, and leasing lands and buildings as well as city planning and infrastructure construction activities.

Ezdehar Management fully acquires Zahran Market Updated 11/18/2024 8:08:00 AM

OFH’s board nods to offer for stake in Klivvr Updated 11/7/2024 12:37:00 PM

MTI Group approves 40.5% share swap transaction with Basata Holding   Updated 10/31/2024 10:35:00 AM

B Investments approves 16.5% non-cash share swap deal with Basata Holding Updated 10/31/2024 10:12:00 AM

AngloGold to acquire Centamin in November Updated 10/30/2024 9:17:00 AM