The competition for the acquisition of the Paints and Chemical Industries Company – Pachin began to raise controversy in the money market about the fair value of the company’s share. Despite the importance of the company in the Egyptian market and its high market share in the paints sector, it has a strong land portfolio which may affect its stock price. National Dyes Industries raised the advance purchase price to EGP 39.8 per share, according to the latest amendment, and Eagle Chemicals amended the purchase offer to EGP 39 per share. Daily News Egypt monitored the opinions of some research centres to find out the fair value of the share and whether the bid was on the company or the land. It is likely that the value of Pachin’s share is less than the offered value, and the fair value of the share is estimated in the range of EGP 36.

Source: Daily News Egypt April 17, 2023 21:52 UTC