Egypt’s FRA Approves Raya Holding’s Mandatory Tender Offer to Acquire Raya Contact Center
Egypt’s Financial Regulatory Authority (FRA) has approved the publication of a mandatory tender offer submitted by Raya Holding for Financial Investments S.A.E. to acquire 100% of the shares of its subsidiary, Raya Contact Center S.A.E.
According to the FRA, the offer targets up to 373,923,150 shares, representing the company’s full issued capital, at a price of EGP 7.5 per share. The transaction will be executed with a minimum acceptance level of 51% of the targeted shares, implying a potential deal value of approximately EGP 2.8 billion.
Regulatory Obligations
The FRA has required the offeror to notify the target company and its shareholders with the information memorandum immediately upon approval and to publish the offer announcement within two business days. The information memorandum must also be made available through the designated broker to ensure shareholders can review it before making their investment decisions.
The regulator further emphasized that its approval does not constitute an endorsement of the offer’s commercial or investment merits. The responsibility for determining the offer price and its fairness lies solely with the offeror and its advisors, while the decision to sell remains at the discretion of shareholders.
Egyptian Exchange Announcement
The Egyptian Exchange (EGX) confirmed that the offer will be valid for 20 trading days, starting from the session of September 28, 2025, until the close of trading on October 26, 2025. The offer period will automatically extend to the next business day if the closing date falls on a public holiday.
Execution of the transaction will take place on the EGX within five business days following the end of the offer period.
The EGX also instructed brokerage firms to record buy and sell orders linked to the offer through its electronic system (OPR) during the offer period, ensuring that all orders are placed with an “OPEN” time validity. Brokers must verify orders on their monitoring screens before the close of trading on October 26, 2025, and make any necessary amendments, as no changes will be permitted afterward.
The exchange reiterated that all parties involved must comply with applicable trading rules, settlement and clearing procedures, and the conditions outlined in the official offer announcement.