Cairo – Mubasher: Orascom Construction limited said it submitted a disclosure report to the Egyptian Exchange (EGX) in order to reduce its capital by cancelling 280,113 stocks.
Following this move, the company’s capital will decline from $118.04 million to $117.76 million at $1 par value each.
Earlier, the company said the capital cut move comes to meet legal requirements by both the Egyptian Exchange and Nasdaq Dubai.
