Arab Finance: Egypt Aluminum Company (Egyptalum) (EGAL) has studied the submitted technical and financial offers by companies to set the fair value (FV) on the company’s stock, according to a disclosure issued on November 27^th.

The company is set to award the FV study to be conducted by one of these companies that are certified by the Financial Regulatory Authority (FRA).

Egyptalum seeks to appoint a financial advisor to conduct a FV study on its stock as it plans to raise the company’s capital to support the rehabilitation of its current factory and maintain its production capacity at 320,000 tons.

This disclosure came as a response to the recently published news in newspapers reporting that the company considers appointing an advisor to set the FV on its stock.

Egyptalum is the largest aluminum producer in Egypt and is one of the leading companies in Africa.