Cairo – Mubasher: Misr for Central Clearing, Depository and Registry (MCDR) has cancelled 269,000 Egyptian Depositary Receipts (EDRs) owned by Orascom Development Holding, said a bourse filling.
MCDR mentioned that the number of the EDRs owned by Orascom currently following this step reached 180.9 million.
Earlier, Orascom management approved the voluntary delisting of all the EDRs owned by the company from the Egyptian Exchange.
The decision to delist aims to increase the free float and improve the liquidity of the company's shares on the SIX Swiss Exchange where ODH maintains its primary listing.
