ODHN cancels 253.760 Egyptian CDs

Amwal Al Ghad – The EGX chairmanship has announced receiving a notice from Misr for Central Clearing, Depositary and Registry (MCDR), the SGF department, about the cancellation of 253.760 Egyptian Certificates of Deposit (CDs). Therefore, Orascom Development Holding AG (ODHN)’s remained CDs which are listed in the market would then amount to only 211.300.980 by March 22, 2012. The MCDR has pledged to inform the EGX if any changes on the SGF’s account occur.

The ODHN’s total amount of business – during the first 9 months of 2011- have shown that the company had encountered a net loss of CHF90.549 million (L.E603.35 million), compared to net profit of CHF10.334 million (L.E68.86 million) achieved in the first 9 months of 2010.