Independent financial advisor “BDO Keys Financial Consulting” set the fair value of SODIC stock at EGP 23.42 per share, EGP 3.42 higher than the received MTO by the UAE consortium. This is a fair value assessment of SODIC’s stock & doesn’t affect the MTO in any way.
But..🤔 With that said, SODIC’s board of directors (BoD) said that in light of “current global economic conditions & uncertainty around the pandemic”, having a partner of Al Dar & ADQ’s economic prominence would reflect positively on SODIC & its employees.
Another but…🙃 With that also said, SODIC’s BoD stressed that the final decision on the MTO belongs to its shareholders, who must agree to sell a minimum of 51% of the company’s shares for the deal to go through. SODIC’s shareholders have until December 7th to respond to the MTO.
