Cairo – Mubasher: Egy Trend for Trading Securities has set the fair value of Arab Dairy Products Co.’s (Panda) stock at EGP 27.78.

The FV has been set in accordance with deducted cash flows by 70%, Egy Trend said in a statement to the Egyptian Exchange (EGX) on Tuesday.

The independent financial advisor hired by Panda indicated that the FV for shareholders’ rights stands at EGP 1.667 billion for 60 million shares.

This FV disclosure comes five days before Panda begins the capital increase subscription to raise capital to EGP 160 million from EGP 60 million.

In July, Panda’s ordinary general meeting (OGM) approved a capital hike of EGP 100 million over 100 million shares at a par value of EGP 1 per share.

Earlier this month, Panda reported it had turned profitable in 2018 with a consolidated profit of EGP 41.29 million, against a net loss of EGP 29.32 million in 2017, including minority shareholders’ rights.