Alexandria Portland okays fair value study for its share

Alexandria Portland’s board of directors approved the fair value study prepared by Premier Financial Advisor

  
ArabFinance:Alexandria Portland Cement Company (ALEX) stated the Independent Financial Advisor Premier Financial set the fair value of its share at EGP 6 per share, according to the company’s May 10th disclosure filed Egyptian Exchange.

On May 7th, Alexandria Portland’s board of directors approved the fair value study prepared by Premier Financial Advisor in light of Mandatory Tender Offer (MTO) that submitted by Alexandria Development LTD to acquire 5,843,610 shares, 1.28% of the company.

In 2019, the company incurred a consolidated net loss of EGP 236,316,079, compared to EGP 394,166,028 incurred a year ago, taking into account the minority rights.

Nevertheless, standalone net loss reached of EGP 157,448,541 in 2019, down from EGP 251,976,074 a year earlier.

Alexandria Portland Cement Company SAE is an Egypt-based public shareholding company engaged in the manufacture of construction materials. The company focuses on the production and distribution of different types of cement, gypsum, bricks and tiles, limestone, plaster, concrete, mortar and lime, as well as other construction-related materials. The Company markets its products in local and international markets.

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