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OIH sees changes in shareholding structure

OIH sees changes in shareholding structure

ArabFinance: Orascom Investment Holding (OIH) stated that its shareholder Mahmoud Lashen purchased 88 million shares at EGP 23.21 million, according to the company statement filed to the Egyptian Exchange.

Lashen rose his stake to 5.56% from 3.88% in OIH capital.

On February 16th, the EGX approved the listing of the shares of OIH after slashing the authorized capital to EGP 2.88 billion from EGP 22 billion following the demerge.

Earlier, OIH submitted a request to the EGX to stop trading on the company’s shares, starting from February 11th, in preparation for the scheduled split.

OIH, formerly Orascom Telecom Media and Technology Holding, is an Egypt-based holding company engaged in the telecommunications sector. The company’s activities are mainly divided into its global system for mobile communications, media and technology, cable, energy, financial, real estate, and entertainment businesses.

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