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HC Securities, the independent financial advisor evaluating National Societe Generale Bank (NSGB.CA) share price, has performed a study to evaluate Qatar National Bank’s mandatory tender offer to buy NSGB entire shares.
HC stated that, it evaluated NSGB share price at EGP 35.25 which is lower than the price offered by QNB amounting to EGP 38.65 per share.
It added that, the price offered is good for bank’s investors.
Accordingly, NSGB BOD approved the tender offer and financial advisor’s report as the price offered in the tender offer is higher than the evaluation price by 9.6 % and 31 % higher than the average price of bank’s share in the market in the last 6 months.
