Sustainable Capital Africa Alpha Fund raises stake in Orascom Construction

Cairo – Mubasher: Sustainable Capital Africa Alpha Fund purchased 35,000 shares in Orascom Construction Plc on 18 September 2022 at a price of EGP 64.33 per share.

Following this transaction, Sustainable Capital Africa Alpha Fund’s ownership in Orascom Construction was increased to 16.16% of total issued shares, according to a recent bourse statement.

On 15 September 2022, the fund increased its ownership in Orascom Construction, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, to 16.13% of total issued shares. 

It is worth noting that in the first half (H1) of 2022, Orascom Construction recorded net earnings of $40.50 million, down from $53.40 million in H1-21.

Meanwhile, the company’s revenues totalled $1.91 billion in the six-month period ended 30 June 2022, compared with $1.68 billion in the year-ago period.

Mubasher Contribution Time: 21-Sep-2022 06:42 (GMT)
Mubasher Last Update Time: 21-Sep-2022 06:42 (GMT)