The company's stock closed near the highest bid price, reaching EGP 39.08 per share, by the end of Wednesday's trading session. National Paints aims to purchase up to 24 million shares, representing 100% of the company's issued capital, with a minimum execution rate of 75%. National Paints and Eagle Chemicals are competing to buy the company. On Wednesday, the Financial Regulatory Authority specified, in a statement, that the period of validity of the National Paints' MTO expires on 2 May 2023. The Elite Financial Consulting Company assumes the role of the financial advisor to determine the fair value, while Al-Ahly Pharos plays the role of the financial advisor to Chemical Holding, which is affiliated with Pachin.
