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Assiut Islamic National's board okays ENTAD fair value

Assiut Islamic National's board okays ENTAD fair value

ArabFinanceAssiut Islamic National for Trading and Development’s board of directors approved the fair value of the National for Trading and Development Company (ENTAD), according to December 29th statement filed to the Egyptian Exchange.

ENTAD’s fair value amounts EGP 21.23 per share, Assiut said.

Assiut received a purchase offer from a consortium of investors represented by the company’s shareholder Amr Abd el-Nasser.

The company plans to sell its stake in five subsidiaries.

Assiut Islamic is an Egypt-based public shareholding company engaged in the trade and distribution of building materials and agricultural machinery, and in the transportation sector. It is involved in marketing all types of grains, seeds, and agricultural crops, as well as the sale and export of cotton.

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