Arab Finance: The Financial Supervisory Authority announced the filing of a draft announcement of the compulsory purchase offer submitted by the Emirati company Nas Investments Holding, to acquire up to 90% of the company’s shares. Fertilizer of Egypt (Egyvert) (SMFR).
The offer aims to purchase up to 5.520 million shares, representing 57.5% of the shares of the company targeted by the offer, at a price of 95 pounds per share. It did not include a minimum limit for implementing the offer, in accordance with the provisions contained in Chapter Twelve of the Executive Regulations of the Capital Market Law No. 95 of 1992.
About the results of its business during the period from 01/01/2024 to 09/30/2024, it showed achieving a net profit assembly It amounted to 80,523,965 pounds, compared to the company achieving a net profit of 45,226,737 pounds during the period from 01/01/2023 to 09/30/2023.
In the same context, the company achieved a net profit independent For the period from 01/01/2024 to 09/30/2024, it was estimated at approximately 77,627,153 pounds, compared to a net profit amounting to 43,790,742 pounds, during the comparative period of the previous fiscal year.
It is worth noting that the net profits or losses for the year are calculated according to the share of owners of the parent company.
The company was established in 1997. The company’s purpose is to trade in imported fertilizers, agricultural chemicals, and related raw materials, manufacture and package solid and liquid fertilizers (foliar fertilizers), trade and produce seeds, agricultural seeds, fodder, and their raw materials, trade in agricultural crops and their products, and trade and produce fertilizers. Vehicle, import, export and commercial agency, taking into account the provisions of applicable laws, regulations and decisions and on the condition of obtaining the necessary licenses to practice these activities. The company may It must have an interest or participate in any way with companies and others that practice businesses similar to its business or that may help it achieve its purpose in Egypt or abroad. It may also merge with, purchase, or annex the aforementioned entities in accordance with the provisions of the law and its executive regulations.
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