Cairo – Mubasher: The Egyptian Exchange executed a transaction for one million treasury shares in Orascom Construction Ltd at EGP 74.05 each, totaling EGP 74.05 million, according to a bourse filing on Tuesday.

The company plans to reduce its capital by cancelling the re-purchased shares as per EGX and Nasdaq Dubai by-laws.

Earlier, the EGX decided to open the OPR market for Orascom Construction Limited to buy back one million shares during 3-10 October in which the company received bids for 5.94 million treasury shares.

By 10:30am Cairo time, the stock quote was placed at EGP 71.06 with 144,100 million shares traded at EGP 10.24 million.