Arab Finance: The International Company for Medical Industries (ICMI) announced that it signed a contract with Riqueza Financial Consultancy Company in order to set a fair value study for the company.
It is worth mentioning, Egyptian Financial Supervisory Authority (EFSA) asked ICMI on August 21, 2016 to set fair value study according to article 34, the company will be obligated to submit fair value study in case its stock highly changed (representing 50%-75%) in a short period (didn’t exceed three months- six months), which does neither match the company’s financial results, market indices' direction, the sector belongs to it nor material news.
Source: EGX & Arab Finance editor