Saybad Industrial Investment made an offer to acquire 51% of stake in Paints and Chemical Industries Company Pachin S.A.E. (CASE:PACH) for approximately EGP 200 million on July 14, 2022. Saybad Industrial Investment made an amendment offer to acquire 90% of stake in Paints and Chemical Industries Company Pachin S.A.E. (CASE:PACH) for approximately EGP 400 million on August 10, 2022. The industrial investment entity plans to own equity in the listed company at a preliminary price ranging between EGP 16 and EGP 16.50 per share. On August 10, 2022, Arab Finance: Saybad Industrial Investment has sent a letter to Paints and Chemical Industries (Pachin) (PACH) regarding the of the initial price of the submitted non-binding purchase offer to range between EGP 16.50 and EGP 18.75 per share. As of July 20, 2021, Pachin's board rejects non-binding purchase price offered by Saybad. The board of directors of Paints and Chemical Industries decided that the value of the non-binding purchase offer submitted by Saybad Industrial Investment does not comply with the real value of Pachin and its assets. However, Pachin's upcoming ordinary general meeting (OGM) will discuss the possibility of conducting due diligence