OCI Completes Selling 100% of GDRs Via LSE

By Yomna Yasser On Aug 5, 2012

Orascom Construction Industries – OCI (OCIC.CA) announced that it has completed selling 153.075 thousand of its Global Depositary Receipts, noting that the company started selling its GDRs from July 26.

This comes after the OCI board of directors approved in its meeting to sell 153.075 GDRs, representing 100 % of its treasury stocks, through the open market in London Stock Exchange (LSE).

Worth mentioning, OCI’s business results during the first quarter of 2012 have revealed that the company posted net profits of EGP 642.6 million, less 51%, as it had posted net profits of EGP 1.308 billion during Q1/2011.

OCI’s issued capital values at EGP 1.044 distributed to 208.938 million securities in which the par value amounts to EGP 5 a share.