{"id":604874,"date":"2018-12-16T04:04:04","date_gmt":"2018-12-16T04:04:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/16\/what-were-tracking-this-week-and-beyond-43\/"},"modified":"2018-12-16T04:04:04","modified_gmt":"2018-12-16T04:04:04","slug":"what-were-tracking-this-week-and-beyond-43","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/16\/what-were-tracking-this-week-and-beyond-43\/","title":{"rendered":"What we\u2019re tracking this week and beyond"},"content":{"rendered":"

FRA to look into an appeal by Raya\u2019s Khalil on 23 December: <\/b>The Financial Regulatory Authority (FRA) will hold a hearing on 23 December to review the conditions it set for Raya Holding founder Medhat Khalil\u2019s mandatory tender offer (MTO) to take Raya private, local news reported<\/a>. A prior hearing was held on 3 December, according to the reports. Khalil had appealed last month<\/a> the conditions under which the FRA ordered him to execute a MTO for 100% of Raya upon determining that he and his family own more than the threshold 33% required to trigger an MTO. Khalil asked for a two-month deadline extension, and requested, among other things, to appoint an independent financial advisor to determine the fair value for Raya.<\/p>\n

Administrative court postpones hearing on Beltone appeal to 5 January:<\/b> An administrative court has postponed to 5 January a hearing on Beltone Financial\u2019s appeal against a six-month suspension to its investment banking arm, Youm7 reported<\/a>. The Financial Regulatory Authority suspended Beltone\u2019s investment banking arm last month, alleging there were \u201cirregularities\u201d in the IPO of structured- and consumer-finance player Sarwa Capital, which Beltone managed. The firm has denied any wrongdoing. The FRA is also scheduled to hear a grievance appeal by Beltone on Monday, 17 December<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

FRA to look into an appeal by Raya\u2019s Khalil on 23 December: The Financial Regulatory Authority (FRA) will hold a hearing on 23 December to review the conditions it set for Raya Holding founder Medhat Khalil\u2019s mandatory tender offer (MTO) to take Raya private, local news reported. A prior hearing was held on 3 December, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9409],"tags":[72,7128,614,343,2385],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-604874","post","type-post","status-publish","format-standard","hentry","category-up-next","tag-enterpriseam","tag-ma-watch","tag-raya-holding","tag-regulation","tag-up-next","wpautop","entry"],"acf":{"mongo_id":"9623a864-7960-4563-b0ab-9e288dd452a2","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[604856],"teaser":"","voice_url":""},"yoast_head":"\nWhat we\u2019re tracking this week and beyond - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/12\/16\/what-were-tracking-this-week-and-beyond-43\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What we\u2019re tracking this week and beyond\" \/>\n<meta property=\"og:description\" content=\"FRA to look into an appeal by Raya\u2019s Khalil on 23 December: The Financial Regulatory Authority (FRA) will hold a hearing on 23 December to review the conditions it set for Raya Holding founder Medhat Khalil\u2019s mandatory tender offer (MTO) to take Raya private, local news reported. 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In\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621272,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/05\/medhat-khalil-to-appeal-date-and-price-of-mto-for-egypts-raya-holding\/","url_meta":{"origin":604874,"position":2},"title":"Medhat Khalil to appeal date and price of MTO for Egypt\u2019s Raya Holding","author":"enterpriseam admin","date":"5 November 2018","format":false,"excerpt":"** #2 Medhat Khalil to appeal the FRA-ordered date and price of Raya MTO: Medhat Khalil will appeal the date and price set by a Financial Regulatory Authority (FRA) as part of its order that he divest shares in the company he founded or launch a mandatory tender offer (MTO)\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605236,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/26\/fra-gives-raya-founder-until-28-december-to-submit-mto\/","url_meta":{"origin":604874,"position":3},"title":"FRA gives Raya founder until 28 December to submit MTO","author":"enterpriseam admin","date":"26 December 2018","format":false,"excerpt":"M&A WATCH- Raya Holding founder Medhat Khalil has until 28 December to submit bid for 100% of the company he founded or sell down shares to get below the threshold that makes the offer mandatory, the Financial Regulatory Authority (FRA) said in an EGX statement (pdf). 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