SODIC announces its intention to launch a Mandatory Tender Offer on MNHD
(World News Egypt)

Cairo, Egypt | 14th of October 2018 SODIC announces its intention to launch a Mandatory Tender Offer on MNHD Cairo, Egypt, October 14th 2018, Sixth of October Development & Investment Company "SODIC" announced today that its board of directors has agreed that the company preliminarily intends to launch a mandatory tender offer on the shares of Madinet Nasr for Housing & Development "MNHD" through a direct share swap (a securities swap only), allowing MNHD to remain listed on the Egyptian Exchange. The swap ratio is preliminarily set at 2 shares of MNHD for one share of SODIC, provided that SODIC acquires a percentage not less than 51% of MNHD`s shares. The...