Sustainable Capital Africa Alpha Fund raises stake in Orascom to 5.13%

Cairo – Mubasher: Sustainable Capital Africa Alpha Fund has increased its stake in Orascom Construction Plc to 5.13%.

On 19 August, the fund bought 175,000 shares at an average price of $5.60 per share and 57,000 shares at an average price of EGP 94.98 apiece, raising its stake to 5.13% from 4.93% earlier acquired on 16 August, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

During the first half of 2019, Orascom Construction posted a consolidated profit of $67.2 million, down from $87 million in the corresponding period a year earlier.

The company’s capital reaches EGP 116.76 million, distributed over 116.76 million shares at a nominal value of EGP 1 a share.

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