New Smart for Construction made an offer to acquire 90% stake in El Nasr Manufacturing Agricultural Crops S.A.E (CASE:ELNA) for approximately EGP 320 million on January 10, 2021. Under the terms, the consortium offered to acquire up to 7.078 million shares, representing 90% of El Nasr Manufacturing Agricultural Crops S.A.E shares, after excluding the minimum limit of free trading shares, or a minimum of 51% stake at a price of EGP 45 per share. As of February 2, 2021, Al Raed for Agricultural Production and Real Estate Investment withdrawal from the offer. Upon New Smart for Construction request the Financial Regulatory Authority to extended the period of the offer for 10 days from the end date of the original offer period, which was on February 3, 2021. The proposal is still under review by the Egyptian Financial Regulatory Authority.