KABO’s OGM approves in principle selling stake in Spinalex

Updated 3/18/2024 11:25:00 AM
KABO’s OGM approves in principle selling stake in Spinalex

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.

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