Fund raises stake in Orascom Construction to 8.6%

Mubasher: Sustainable Capital Africa Alpha Fund has raised its ownership in Orascom Construction, listed on Nasdaq Dubai and the Egyptian Exchange (EGX), from 7.61% to 8.61%.

The fund has purchased 12,015 shares at a price of EGP 55 per share, aggregating at an amount of EGP 660,800, according to a company disclosure on Wednesday.

It is noteworthy to mention that during the first nine months of 2019, the company's profits dropped by 16% year-on-year (YoY) to $100.3 million from $119.3 million during the same period of 2018.

 

Mubasher Contribution Time: 25-Mar-2020 10:35 (GMT)
Mubasher Last Update Time: 25-Mar-2020 11:51 (GMT)