Rana Mamdouh _ The Egyptian Exchange (EGX) management announced the transfer of ownership of a percentage of the shares of the principal shareholder of MNT Tech Holding for Financial Investments, known as MNT Halan, to the top management employees of the company and its group companies.
The Egyptian Exchange (EGX) stated in its release issued today that 24.333 million shares were transferred with a total value of EGP 2.433 million, in light of item nine of the prospectus and the approval of the Financial Regulatory Authority (FRA).
According to the EGX statement, the shares will be locked up as follows: 15.666 million shares will be locked up for a period of 12 months starting from the date trading commences on the company's shares, and 8.666 million shares will be locked up for a period of 24 months starting from the date trading commences on the company's shares.
The Egyptian Exchange (EGX) management had announced shortly ago the execution of the public and private offering of 320 million shares, representing 20% of the share capital of MNT Halan, at a price of EGP 24.5 per share, with a total value of EGP 7.840 billion.
