FRA approves Americana’s EGX delisting

Americana Egypt’s requestto delist 400 mn shares from the EGX has been approved by the Financial Regulatory Authority’s (FRA) Securities Registration Committee following its purchase by Adeptio, the local press reports. The company is now authorized to gradually delist shares from the EGX in one week intervals until 31 January, 2021. Americana Egypt is transferring ownership to the Emirati outfit, which last month purchased the 9.6% of the company that it did not already own at EGP 6.32 per share in a mandatory tender offer.