Qalaa Holdings announced that its fair value is EGP 6.34 per share estimated by RSM Egypt, the independent financial advisor (IFA), according to a press statement on Thursday.
The report said that RSM Egypt completed the estimation of value report requested by Egypt’s Financial Regulatory Authority (FRA).
On 24 April, the FRA had requested that Qalaa Holdings appoint an IFA to produce a fair value report of its shares.
On 11 July, the selected IFA, RSM Egypt, submitted their report to the FRA. Following the receipt of questions and comments by the FRA on 16 July, RSM Egypt submitted on 19 July their adjusted report incorporating the FRA’s feedback, valuing Qalaa Holdings’ equity at EGP 6.34 per share.
As per FRA regulations, the IFA’s summary report is posted on EGX screens and on Qalaa Holdings’ website.