The OPR for Orascom Construction Limited (OC) has closed yesterday, 10 October. Total number of shares offered were: 5,939,307, for a total bid of 1mn shares. This translates into a subscription ratio of 5.94x; hence, an allocation of c16.8%. Execution should be completed within a maximum of five working days. Execution price is at EGP74.05/share. A capital reduction will subsequently take place. (EGX) Orascom Construction Limited: EGP71.95 as of 10 October 2016, Rating: Neutral, FV: EGP61.09 per share, MCap: USD56mn, ORAS EY / ORAS.CA
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