Univert obtains EGX committee approval to begin delisting

Univert Food Industries has obtained approval from the EGX listing committee to begin procedures to voluntarily delist its shares, according to a release. The company will take itself private once it purchases shares of affected shareholders at a fair value and obtains final approval from the committee. The company’s majority shareholder, Mohammed Ahmad Basamh, was seeking approval last year from the Financial Regulatory Authority to submit a mandatory offer for 100% of the company’s shares.