Qalaa Holdings appoints financial advisor to set FV of its stock

In April 2018, the Financial Regulatory Authority (FRA) has asked Qalaa Holdings to appoint an independent financial advisor to set the FV of its stock.

Qalaa Holdings has also reported a slight rise in its consolidated losses during the full-year ended December 2017.

Net loss totalled EGP 5.9 billion last year, versus EGP 5.6 billion in the year before, the company said in a filing to the Egyptian Exchange (EGX).

Revenue grew to EGP 9.28 billion in 2017, up from EGP 7.6 billion a year earlier.

Meanwhile, standalone losses plunged 77% year-on-year to EGP 452.3 million last year, against losses of EGP 2.003 billion in 2016.