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Qalaa Holdings appoints financial advisor to set FV

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05/17/2018 | 06:49am CEST

In April 2018, the FRA has asked Qalaa Holdings to appoint an independent financial advisor

Qalaa Holdings CCAP 0.66% 3.06 0.02

Cairo – Mubasher: Qalaa Holdings has hired RSM Egypt - Financial Advisory as its independent financial advisor to conduct the fair value (FV) of its stock, according to a bourse filing.

In April 2018, the Financial Regulatory Authority (FRA) has asked Qalaa Holdings to appoint an independent financial advisor to set the FV of its stock.

Qalaa Holdings has also reported a slight rise in its consolidated losses during the full-year ended December 2017.

Net loss totalled EGP 5.9 billion last year, versus EGP 5.6 billion in the year before, the company said in a filing to the Egyptian Exchange (EGX).

Revenue grew to EGP 9.28 billion in 2017, up from EGP 7.6 billion a year earlier.

Meanwhile, standalone losses plunged 77% year-on-year to EGP 452.3 million last year, against losses of EGP 2.003 billion in 2016.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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