International for Agricultural Products announces fair value of share
Updated 10/15/2020 4:23:00 PMArabFinance: International Company for Agricultural Products (IFAP) (ICAP) announced the fair value of its share at EGP 337.80, according to the company’s October 15th statement filed to the Egyptian Exchange.
The company’s board of directors approved the fair value study prepared by First Financial Consultation Company, an independent financial advisor.
The study was prepared due to ICAP's subsidiary Polyserve for Agriculture and Food Industries will sell a fraction of its stake in El Nile For Agriculture & Food Industries (Nafico).
In the first half of FY 2019/2020, ICAP posted a net profit of EGP 7,212,016, compared to EGP 103,955,269 in the same period a year ago.
The public shareholding company is engaged in farming, trading, and distribution of crops and seeds. The company purchases cotton flowers and cotton seeds from producers, undertakes contracting activities with cotton ginning companies, and trades in cotton fibers and seeds.
