Orascom Construction buys 6.51mln treasury shares

Orascom Construction bought 6.51 million treasury shares for $19.5 million, accounting for three dollars per share. The company said that the deal was made in Nasdaq Dubai, signaling to the fact that these shares will be written off three months after the purchasing date

They will be kept as treasury shares until the date of the write-off. The company said that this deal reflects the board of directors’ confidence in the company’s performance.