Egyptian Starch and Glucose hires financial advisor for FV assessment

The assessment is required in procedures to delist the company’s shares

  

Cairo – The board of directors of the Egyptian Starch and Glucose decided to appoint Baker Tilly Wahid Abdel Ghaffar & Co as an independent financial advisor to study and determine the fair value (FV) of the company’s shares.

The FV assessment is required in procedures to delist the company’s shares from the Egyptian Exchange (EGX), according to a bourse disclosure on Monday.

The voluntary delisting decision follows the acquisition offer submitted by Cairo Three A for International Industries.

During the first six months of 2020, the Egyptian Starch and Glucose suffered net losses of EGP 7.6 million, up from EP 5.9 million in the year-ago period.

Source: Mubasher

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