OCI eyes dual listing for construction arm split - FT.com:
"Orascom Construction Industries — the Egyptian conglomerate that attracted a $1bn investment from Bill Gates and a group of US investors — is to spin off its construction and engineering arm through a dual listing in Egypt and Dubai, in an attempt to capitalise on improving domestic growth prospects.
OCI — which moved its listing from Cairo to the Netherlands in 2013 after a tax dispute with the former Egyptian government following the 2011 revolution — revealed on Monday plans for a demerger of the construction unit from its other fertiliser and chemicals business.
A new listed entity, Orascom Construction, will offer about 15.8m new shares representing 15 per cent of the company to public retail investors and institutional investors in a private placement. OCI’s fertiliser arm will continue to be listed on Euronext Amsterdam as OCI NV."
'via Blog this'
No comments:
Post a Comment