Financial advisor sets Americana Egypt’s FV at EGP 5/share – ZAWYA

Financial advisor sets Americana Egypt’s FV at EGP 5/share – ZAWYA

Financial advisor sets Americana Egypt's FV at EGP 5/share | ZAWYA MENA Edition HomeMarketsEquitiesArticleFinancial advisor sets Americana Egypt's FV at EGP 5/share Americana Group aims to acquire 100% of Americana Egypt    Cairo - The Egyptian Financial Regulatory Authority (FRA) is currently reviewing the fair value (FV) study conducted by an independent financial advisor for the Egyptian Company for International Touristic Projects (Americana Egypt).Ernst & Young Corporate Finance has set the fair value (FV) of Americana Egypt at EGP 5 per share, the FRA said in a statement to the Egyptian Exchange (EGX) on Tuesday.Americana Group appointed the independent financial advisor to conduct the FV study as it aims to acquire 100% of Americana Egypt.The FRA previously rejected an acquisition offer on Americana Egypt at EGP 3.9 per share, based on a study prepared by Fincorp.It is worth mentioning that in the first quarter of 2020, Americana Egypt incurred net losses of EGP 41.18 million, a 42.8% year-on-year (YoY) drop from EGP 72.09 million.Source: MubasherAll Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info). Most Read Stock Market DataDubai FM 2,083.31221,219,255(-0.69% )Abu Dhabi SE 4,311.86248,412,707(-0.67% )Saudi SE 7,399.32243,331,250(-0.02% )Egypt SE 11,171.65252,453,763(1.10% )Most Active Stocks