Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the listing of the shares of Orascom Financial Holding (OFH) resulted from the demerger of Orascom Investment Holding (OIH).
The shares of OFH will be listed with an authorised capital of EGP 8.13 billion and issued capital of EGP 1.62 billion, distributed over 5.24 billion shares at a nominal value of EGP 0.31 apiece, according to a statement on Tuesday.
Shares will be listed as of the beginning of trading session on Wednesday, 17 February.
In a separate statement, the EGX approved the listing of the shares of OIH after slashing the authorised capital to EGP 2.88 billion from EGP 22 billion following the demerger.
The share’s nominal value will be reduced to EGP 0.11 from EGP 0.42 after the issued capital has been decreased to EGP 577.02 million from EGP 2.2 billion.
During the first nine months of 2020, the company incurred consolidated net losses of EGP 17.89 million, down from EGP 92.4 million in the corresponding period in 2019, including minority shareholders’ rights
