EGX Details Voluntary Tender Offer by NCC and Ascom Consortium to Acquire 13.42% of Spinalex
The Egyptian Exchange (EGX) has announced the details of a voluntary tender offer submitted by a consortium comprising New Construction Chemical (NCC) and Ascom Real Estate Investment to acquire an additional stake in Alexandria Spinning and Weaving Company (Spinalex).
The EGX clarified that the offer targets the purchase of up to 48.41 million shares of Spinalex’s capital, representing approximately 13.42% of the company's total issued shares, at a price of EGP 15 per share.
Validity Period of the Offer The offer's validity period spans 20 working days, commencing from the trading session on July 6, 2026, until the close of the trading session on August 3, 2026. The period will be automatically extended to the following business day should the expiry date coincide with an official holiday.
The EGX noted that the purchase transaction will be executed on the exchange within five working days from the expiration date of the tender offer.
Furthermore, the EGX emphasized that all brokerage firms must register their buy and sell orders for the offer via the dedicated Open Position Registry (OPR) system throughout the validity period. These must be logged as open-duration orders, including quantity reservation orders.
Brokerage firms were also urged to review all registered orders via the system's order-tracking screens before the end of the August 3, 2026 trading session to make any necessary adjustments before the specified deadline. The EGX stressed that no modifications to order data will be permitted after the deadline expires.