Arab Finance: El Nasr Clothing and Textiles Company’s (KABO) ordinary general meeting (OGM) has approved in principle selling the company’s stake in Alexandria Spinning and Weaving Company (Spinalex) partially or fully, according to a disclosure.
Accordingly, the fair value (FV) of Spinalex’s share will be evaluated by a certified office by the Financial Regulatory Authority (FRA).
This process requires two FV studies at least to be conducted by different offices to ensure accurate evaluation.