Saudi Egyptian Investment Company (SEIC), a subsidiary of the Public Investment Fund (PIF), is planning a mandatory tender offer for CIRA Education through Social Impact Capital Ltd.
Today, the Egyptian Exchange (EGX) disclosed a letter sent to both EGX and CIRA Education. Social Impact Capital Ltd, holding a 51.21% stake in CIRA shares, announced receipt of a letter from SEIC, indicating its intention to submit an offer to acquire at least 75% and up to 100% of CIRA shares at a price of EGP 14 per share. The offer also entails the voluntary delisting of CIRA shares from EGX.
The mandatory tender offer will be facilitated through Social Impact Capital Ltd, with financing provided by SEIC through a capital increase in Social Impact Capital Ltd.
The full disclosure body is provided below and is also attached for reference.
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