{"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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Khalil is looking to cut down or overturn fines (details below) 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":598430,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/26\/fra-files-lawsuit-against-rayas-medhat-khalil-for-not-paying-fine\/","url_meta":{"origin":604874,"position":3},"title":"FRA files lawsuit against Raya\u2019s Medhat Khalil for not paying fine","author":"enterpriseam admin","date":"26 May 2019","format":false,"excerpt":"DISPUTE WATCH- FRA files lawsuit against Raya\u2019s Medhat Khalil for not paying a fine: Regulators have filed a lawsuit against Raya Holding Chairman Medhat Khalil, alleging he has failed to pay an EGP 11 mn fine handed out after he exceeded the maximum ownership limit in Raya without making a\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":568636,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/29\/raya-files-appeal-against-egp-110-mn-fine\/","url_meta":{"origin":604874,"position":4},"title":"Raya files appeal against EGP 110 mn+ fine","author":"enterpriseam admin","date":"29 January 2020","format":false,"excerpt":"DISPUTE WATCH- Raya files appeal against EGP 110 mn+ fine: Raya Holding yesterday filed an appeal against the Cairo Economic Court\u2019s ruling against its chairman Medhat Khalil, the company announced in an EGX disclosure (pdf). In separate comments made to Al Mal the group\u2019s legal advisor, Hani Khalil, stated that\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\/2020\/1\/732.jpg?fit=%2C&ssl=1&resize=350%2C200","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":5},"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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