Imex International notified its intention to acquire Nile Cotton Ginning Company (CASE:NCGC) for EGP 2.6 billion on August 26, 2020. Imex International will acquire 53 million shares at EGP 50 per share. Imex International submitted a mandatory purchase offer to acquire Nile Cotton Ginning Company (CASE:NCGC) for EGP 2.6 billion on September 8, 2020. The offer includes acquiring a minimum 51% stake. Transaction is subject to approval from Egypt’s Financial Regulatory Authority. The Board of Nile Cotton Ginning Company unanimously rejected the offer due to low offer price on September 14, 2020. The offering period extends for 10 days starting from the trading session on September 13, 2020 to the end of the trading session on September 24, 2020. The transaction will be executed within the following five business days after the end of the offering period. EGY Trend acted as financial advisor to Nile Cotton Ginning Company.