The UAE’s Amass wants a piece of Osool ESB: Abu Dhabi-based Amass Investments has submitted a binding offer to acquire a EGP 100 mn stake in EGX-listed brokerage firm Osool ESB through a capital increase, according to two separate filings to the exchange filings (pdf) | (pdf).

The details: Amass is offering to invest EGP 100 mn in the firm at the fair value price that will be decided by an independent financial advisor, with the investment set to be an off-market private placement transaction. It’s noteworthy that Osool Holding holds a 74.2% stake (pdf) in the listed company.

A deposit in good faith: The Emirati firm has already transferred the full amount it is willing to invest to Osool’s bank account, which will remain in escrow until Osool decides on the offer. Osool will hold a board meeting on Thursday to evaluate the offer.

Last year was a good year for Osool ESB: The company logged EGP 8.96 mn in net income in 9M 2024, up 79.3% y-o-y.

Market reax: Following the news, Osool ESB’ shares rose 20% to EGP 0.92 a share by the end of trading yesterday.

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