Sustainable Capital Africa Alpha Fund raises stake in Orascom Construction
The fund purchased 100,000 shares
An Orascom construction worker poses at Egypt's new administrative capital, approximately 45 km (30 miles) north of the current capital Cairo, Egypt October 18, 2017. Picture taken October 18, 2017.
REUTERS/Amr Abdallah Dalsh
By Staff Writer, Mubasher
Mubasher: Sustainable Capital Africa Alpha Fund has raised its ownership in Orascom Construction Plc, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, to 12.16%.
The fund purchased 100,000 shares at a price of EGP 69.005 per share to increase its ownership in the company to 12.16%, according to a bourse filing on Sunday.
It is noteworthy to mention that during the first nine months of 2021 (9M), the company reported a 17.1% increase in consolidated net profits attributable to the owners to $76.1 million from $65 million in the year-ago period.
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