Egypt’s Capital Markets Authority (CMA) has approved the Middle East Food and Trade Company’s offer to acquire 100 percent of the Al-Rashidi Al-Mizan candy company. The firm proposed to purchase all of Al-Rashidi’s six million shares for 15.3 Egyptian pounds ($3.3) per share, reported Al-Akhbar.
The CMA is the market regulatory agency responsible for ensuring the development of a transparent and secure market for investors in Egypt. The CMA monitors market activity and facilitates capital growth by requiring disclosure, encouraging more secure institutions for trading securities, and promoting the introduction of markets for new investment instruments. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
