Sawiris’ OCI targets delisting from Cairo bourse on thin trading

By Yomna Yasser On Dec 27, 2015

The board of directors of Orascom Construction Industries (OCI), owned by Egyptian tycoon Nassef Sawiris, unanimously approved a proposal to delist the company’s stock voluntarily from the Egyptian bourse (EGX), the company said Sunday.

A total of 208.93 million shares will be delisted from Cairo bourse, the company added, ascribing the move to a decline in trading the stock to 0.0598%.

OCI will also offer to buy shares of those hurt by the listing decision.