Arab Finance: Sustainable Capital Africa Alpha Fund has reduced its stake in Orascom Construction PLC after selling 51,000 shares in a transaction valued at approximately EGP 40.39 million, according to a disclosure filed to the Egyptian Exchange (EGX).
Following the transaction, the fund's ownership in the company fell to 14.98% from 15.03% after selling the shares at an average price of EGP 791.978 per share, with HC Brokerage acting as the executing broker.
Established in 2015, the company is a global engineering and construction contractor with projects and investments in the Middle East, Africa and the United States in the infrastructure, industrial, and commercial sectors. The company’s services include concessions, operation and maintenance, manufacturing building materials, and importing and distributing equipment.
