عربــى

EGX 30 9,455.38 0.32%



EGX executes block trading on Orascom Development Egypt shares

EGX executes block trading on Orascom Development Egypt shares

ArabFinance:  The Egyptian Stock Exchange (EGX) announced the execution of block trading deal on 17,018,717 shares of Orascom Development Egypt (OHD) (ORHD) share capital worth EGP 40,504,546.

In early March, OHD has signed an agreement with Cairo for Investment and Real Estate Development to build two schools in west of Cairo.

Built in O West project in the 6th of October City, the new schools are Saxony International School (SIS) and British Colombia Canadian International School (BCCIS). The two schools are with investments up to 450 million Egyptian pounds ($28.6 million).

The company posted consolidated net profit of EGP 501,209,584 ending September 30, compared to EGP 274,063,757 in the same period a year earlier, including minority shareholders’ rights. 

Moreover, it achieved standalone net profit of EGP 403,709,474, incurring net losses of EGP 119,279,617 in the same period last year.

OHD is a leading developer of fully integrated destinations, including hotels, residential units and leisure facilities such as golf courses, marinas and supporting infrastructure.

The company offers a diverse portfolio of worldwide destinations covering Egypt, the United Arab Emirates (UAE), Oman, Morocco, Montenegro, Switzerland and the United Kingdom. The group operates a total of 33 hotels with 7,205 rooms and controls approximately 101 million sqm of land.

#Related keywords

All rights reserved to Arab Finance 2015 ©

Back to top