Arab Company for Asset Management and Development (ACAMD) received an offer to sell its 58,000-square-meter land in Minya governorate, according to the company’s statement filed to the Egyptian Exchange.
The price offered amounts to EGP 1,800 per square meter, the company stated.
ACAMD incurred a net profit of EGP 6.084 million in 2020.
Earlier, the company gave the green light for splitting the stock value to EGP 0.1 instead of EGP 0.5.
Arab Company provides commercial banking services including deposits, loans, and credit cards, in addition to asset management services including fund management.
