Update 07/07/2024 14:47 CLT
El Ahli Investment and Development (AFDI) Shares Surge +20%
AFDI shares surged 20% in today's session, the second session following the Board of Directors' announcement that they are exploring an exit strategy from Cairo Capital for Financial Investments.
Source: Company Disclosure
El Ahli Investment and Development (AFDI) recently announced that their board of directors convened on July 2, 2024, to deliberate on the company's investment portfolio and formulate plans to maximize returns. During the meeting, the board decided to explore the possibility of divesting from Cairo Capital for Financial Investments. To facilitate this process, the board has entrusted the general manager with the task of soliciting offers from independent financial advisors registered with the Financial Regulatory Authority (FRA) to prepare a comprehensive fair value report for the company. Additionally, offers from investment banks will be obtained to assess the optimal strategy for divesting from these investments, through which AFDI currently holds a 17.08% stake in Cairo Financial.
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