The Clap
B Investments (BINV) agreed on a valuation of EGP 202.1 per share for its subsidiary Giza Systems, prior to a deal to be acquired by “Solutions”, a subsidiary of Saudi STC.
Background
In April 2022, B Investments agreed to sell its indirect stake in Giza Systems, which amounts to 44.7%, to Solutions, and said that the final price would be determined after calculating the company’s net debt and working capital.
Why this Matters
The FRA laws oblige companies that want to sell more than 10% of their subsidiaries to study the fair value of the share price through an independent financial advisor.
Following the news, the company’s share rose by 6.51%, closing at EGP 11.78.
B Investments settles on fair value of its subsidiary 💸
