Sawiris’ OCI targets delisting from Cairo bourse on thin trading

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.

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