Orascom Financial Egypt is in the process of reducing the capital to 1.48 billion pounds
The Board of Directors of Orascom Financial Holding agreed to start implementing the procedures for reducing the issued capital from about 1.62 billion pounds, distributed to about 5.245 billion ordinary shares with a nominal value of 31 piasters per share, to become about 1.48 billion pounds distributed to 4,799 billion ordinary shares with the same nominal value.
The company stated in a statement to the Egyptian Stock Exchange that this reduction will take place through the disposal of treasury shares that have been purchased for 3 months or more, amounting to about 445.7 million shares, which represents 8.5% of the total issued shares of the company.
