Orange Egypt For Telecommunicationssaid that it would finish preparing fair value study at December 21, 2017.
the company added in a statement that it has appointed Grant Thornton as an independent financial advisor to prepare the fair value study of the company’s shares.
Orange has received Egyptian Financial Supervisory Authority’s (EFSA) request to hire an independent financial advisor to prepare fair value study, and provide EFSA by the summary of the study within one month.
In accordance with article No.34-bis of EGX’s listing and delisting rules, EFSA has right to ask the listed company to prepare fair value study if the company’s stock price changes toward increase or decrease more than 50% within period not exceeded 3 months or more than 75% within period not exceeded 6 months, in a manner that not commensurate with sector’s indicators that the company belongs.
