Cairo – Mubasher: Orascom Investment Holding said that the global depository receipts (GDRs) programme with The Bank of New York Mellon will remain in force.
The price of the GDR may change following the re-trading due to separating its assets and distributing the shares of Orascom Financial Holding (OFH) to the shareholders of OIH, according to a bourse disclosure on Thursday.
The Bank of New York Mellon will be shown as a registered shareholder with the same number of shares represented in the form of GDRs at the end of Wednesday, 10 February.
Following the listing of the shares of OFH on the EGX on 17 February, the relevant listed shares of OFH will be transferred to The Bank of New York Mellon or its custodian.
In October 2020, the company’s shareholders approved the demerger of the company in accordance with the horizontal demerger method.
During the first nine months of 2020, the company incurred consolidated net losses of EGP 17.89 million, down from EGP 92.4 million in the corresponding period in 2019, including minority shareholders’ rights
