Egypt’s Banque Misr planning to buy CI Capital shares

Banque Misr, one of Egypt’s largest state-run lenders, is planning to submit an offer to buy the share capital of CI Capital Holding for Financial Investments for 4.7 Egyptian pounds ($0.30) per share.

The Egyptian Financial Regulatory Authority (FRA) on Monday made the announcement.

Trading CI Capital’s shares was resumed at 11:55 a.m. (09:55 GMT) on Monday, while all offers and requests registered on the company’s shares prior to the announcement were suspended, the Egyptian bourse said in a statement.