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.
