Pachin appoints IFA to conduct FV study
Updated 9/7/2022 9:33:00 AM
Arab Finance: The board of directors of Paints and Chemical Industries (Pachin) (PACH) has decided to appoint Elite Financial Consulting as its independent financial adviser (IFA), according to a statement filed to the Egyptian Exchange (EGX) on September 6th.
Elite Financial Consulting will be responsible for conducting the fair value (FV) study on Pachin’s stock.
The board also selected Shalakany Law Firm to act as Pachin’s legal adviser.
It is worth noting that Pachin recently received a non-binding purchase offer from SIPES International for 100% of Pachin’s issued capital at an initial price ranging between EGP 17.5 and EGP 18.5 per share.
On August 10th, Saybad Industrial Investment amended its initial price of the submitted non-binding purchase offer of Pachin to range between EGP 16.50 and EGP 18.75 per share.
Pachin is an Egypt-based public shareholding company that operates in the production, marketing, and distribution of paints, varnishes, industrial chemicals, printing inks, animal extracts, and other related products.
