Orascom Construction (OC) is set to hold its EGM on 28 September to discuss and approve its one-million-share buy-back programme. OC is also set to seek shareholders’ approval to reduce the company’s paid-in capital, through the cancellation of the bought-back shares, on the same day. A board meeting will follow shortly to set the buy-back price, after which the necessary approvals will be sought from EFSA. An OPR screen will open for five days, after obtaining the approvals from EFSA. We note that the buy-back price is capped at 10% above the 10-trading day average, preceding the submission of the file to EFSA. (Company disclosure, Mai Attia, Sara Boutros)     Orascom Construction Limited: EGP69.70 as of 06 September 2016, Rating: Neutral, FV: EGP61.09 per share, MCap: USD927mn, ORAS EY / ORAS.CA