UAE Abraaj Group sells 5.4% stake in Orascom Construction

Cairo – Mubasher: Orascom Construction Ltd on Thursday announced that Dubai-based The Abraaj Group has sold its entire stake in the Egyptian company.

Abraaj sold its 5.4% holding in Orascom Construction, representing nearly 6.256 million shares at $8.30 per share, Orascom said in a filing to the Egyptian Exchange (EGX).

Orascom Construction’s capital amounts to EGP 116.76 million distributed over a par value of EGP 1 per share.

The EGX-listed company last reported a net profit of $35 million in the first quarter of 2018, versus $31.5 million in Q1-17.

Orascom's extraordinary general meeting (EGM) previously approved distributing cash dividends of $30 million for the full-year 2017.

Mubasher Contribution Time: 14-Jun-2018 08:43 (GMT)
Mubasher Last Update Time: 14-Jun-2018 09:35 (GMT)

Request a Trial

Title:*
First Name:*
Last Name:*
Job Title:*
Phone:*
Company:*
Email:*
Country:*
Comments:
*Required Fields
 
Submit

Already Registered?

Username/ Email:
Password:
 
Login
Support & Feedback
Ask for free trial