Egyptians for Housing to appoint IFA to conduct FV study on Edge Development’s stock

The IFA will be appointed to conduct the fair value (FV) study on the unlisted company Edge for Development and Projects Management’s stock.

  
A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.

A trader works at the Egyptian stock exchange in Cairo, Egypt September 23, 2019.

REUTERS/Mohamed Abd El Ghany
 

Egypt - The board of directors of Egyptians for Housing and Development Company (EHDR) has approved to assigned the company’s chairman in appointing a certified independent financial advisor (IFA) by the Financial Regulatory Authority (FRA), according to a statement filed to the Egyptian Exchange (EGX).

The IFA will be appointed to conduct the fair value (FV) study on the unlisted company Edge for Development and Projects Management’s stock.

This comes in line with Egyptians for Housing’s plan to acquire 39.99 million shares, representing a 99.9% of Edge for Development’s capital.

Egyptians for Housing operates in the real estate development and investment sector, with the focus on the businesses of buying, purchasing, dividing, and selling lands, and establishing buildings and facilities.

The company’s business also includes setting up urban expansion projects, residential and commercial complexes, and new township projects.

Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities