Jul 05 2011 |
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MARKET TALK:IFC's Possible Equity Investment In OCI Positive For Hldrs
Tuesday, Jul 05, 2011
0755GMT [Zawya Dow Jones]--CI Capital reckons a possible $50 million equity investment by International Finance Corp , or IFC , in Orascom Construction Industries , or OCI , could be positive for shareholders. "Coupled with the share buyback program...we view this to be positive to shareholders, a buying pressure might follow," it says. OCI said Monday that the IFC , the part of the World Bank that lends to the private sector, is considering a debt and equity investment package of $350 million. The investment would consist of a $200 million loan to its fertilizer unit, a $100 million loan to its construction division, and a $50 million equity investment through the acquisition of shares in OCI . OCI shares closed up 0.8% Monday at EGP274.30.(shereen.elgazzar@dowjones.com)
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
05-07-11 0757GMT
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