Cairo – Mubasher: Orascom Development Holding (ODH) approved to voluntary delist its Global Depository receipts that are listed on the Egyptian Exchange, said a bourse filling.
The company’s board also approved buying the GDRs of the shareholders who reject the delisting move.
The company noted that the delisting step aims to increase its free float stake on the Swiss exchange as well as the stocks’ liquidity.
Orascom Development Holding suffered losses 50.27 million Swiss Franc (EGP 459 million) in the first half of 2016.
