CAIRO- Egypt's Qalaa holdings' shares fell 6 percent after the Financial Regulatory Authority demanded the company to prepare a study to assess the fair value of its shares, the country's watchdog said on Tuesday.
The Financial Regulatory Authority has the right to request Egyptian-listed companies conduct a study assessing the fair value of its shares in case the price moves more than 50 percent in either direction within three months.
The company's shares jumped about 95 percent on the Egyptian stock exchange in two months and are up around 166 percent in the past twelve months.
(Reporting by Ehab Farouk, editing by Louise Heavens) ((firstname.lastname@example.org; +20 2 2394 8114;))
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