Cairo – Mubasher: Dubai-based National Paints Holding Limited has purchased 19.35 million shares in Paint and Chemicals Industries (Pachin) at a total value of EGP 770.45 million.
The transaction was executed at a nominal value of EGP 39.80 per share, the Egyptian Exchange (EGX) announced in a disclosure on Wednesday.
In December 2022, Pachin denied news reporting that National Paints raised its offer price to over EGP 32 per share from EGP 29.
During the first half (H1) of fiscal year (FY) 2022/2023, the EGX-listed firm turned to consolidated net profits after tax valued at EGP 19.50 million, against net losses of EGP 12.83 million in the year-ago period, including minority interest.
Revenues amounted to EGP 486.39 million as of 31 December 2022, an annual growth from EGP 427.95 million.
The earnings per share (EPS) reached EGP 0.81 in H1-22/23, versus a loss per share worth EGP 0.53 in H1-21/22.
