Cairo – Mubasher: The Egyptian Company for Construction Development (Lift Slab Misr) announced the appointment of Grant Thornton Financial Consulting to conduct a fair value (FV) study of the company’s shares. 

The FV assessment is needed by the Financial Regulatory Authority (FRA) as the company is looking to acquire 85.255% of El-Wafaa for Tourism Investment Co, and in exchange, Al Forsan Real Estate Development & Investments will be allowed to subscribe to the capital increase of Lift Slab Misr, according to a bourse disclosure on Sunday. 

During the first quarter of 2020, Lift Slab Misr achieved net profits of EGP 1.34 million, compared to about EGP 245,600 in the year-ago period.