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Speed Medical reveals share's fair value

Speed Medical reveals share's fair value

ArabFinance: Speed Medical (SPMD) has approved evaluation of its share’s fair value at EGP 3.62 per each based on discounted cash method applied before the capital increase, according to the company’s September 17th statement filed to the Egyptian Exchange.

Castle for Financial advisory, an independent financial advisor, prepared the fair value report of Speed medical due to the latter intention to increase issued and paid-in capital by EGP 150,501,276 from EGP 71,327,619 to EGP 221,828,895.

Moreover, Castle set the fair value of Speed medical based on a discounted cash flow method after the increase at EGP 3.91 and EGP 3.34 based on price per earning valuation method.

Earlier, the listed company has got the Financial Regulatory Authority's approval to increase the issued and paid-up capital. 

In mid-September, the board of directors approved the acquisition of Misr Laboratories for EGP 10 million.

The final amount of the deal will be determined with a maximum of EGP 10 million only if the labs achieved annual sales worth a minimum of EGP 5.58 million within the next three audit months.

Speed Medical is an Egypt-based medical laboratory operator. The company is engaged in establishing, operating, and managing diagnostic laboratories, clinics, and hospitals.

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