Middle East Glass Manufacturing approves FV study for Medco Plast’s stock

Updated 9/9/2021 9:26:00 AM

ArabFinance: Middle East Glass Manufacturing Co (MEGM) on Thursday announced that its board of directors has approved the fair value (FV) study conducted by the independent financial advisor on Medco Plast for Wrapping and Packaging Systems’ stock, according to a statement.

The FV of Medco Plast has been set at EGP 155.3 per share, MEGM highlighted.

It is worth noting that MEGM is about to sell its entire stake of 15.6% in Medo Plast, representing 772,000 shares.

The final sale price has not been determined yet and it will be announced once it is agreed upon.

MEGM is an Egypt-based company primarily engaged in the manufacture, sale, and export of glass containers in the Middle East and North Africa region.

The company’s product solutions include food jars, bottles, juice, carbonated bottles, and pharma, among others.