Cairo – Mubasher: Orascom Construction Industries (OCI) said Wednesday that its ordinary general meeting (OGM) agreed to cut its issued capital to $118.04 million from EGP 117.76 million.
The company will reduce the its capital through writing off 280,000 shares from its stake in Symantec Limited after purchasing them at $1 each, according to a bourse statement.
The OGM also adopted the financial results for the fiscal year 2015 and the auditor’s report on the year.
OCI earlier posted a net profit of $334.4 million in 2015.
