ArabFinance: Modern Waterproofing Group (Bitumode) has 606,331 shares available to be purchased as part of the voluntary delisting process, according to a disclosure by the Egyptian Exchange. 

The company will be eligible for delisting when it buys back the shares.

Bitumode will purchase the shares of dissenting shareholders and those affected by the process at EGP 3.91 per share.

The company reported a standalone net profit of EGP 19,596,606 in the January-September period of 2020, compared to EGP 43,294,311 posted in the corresponding period a year earlier.

The listed company is a multinational group of companies that dates back to 1953. It is engaged in manufacturing a wide range of products for the construction industry.

The products cover a wide range of high-quality bituminous torch-applied and self-adhesive waterproofing membranes and protection boards.