Egyptian Orascom company raises capital by 60%

Egypt's Orascom company raised its stock by 60%. Orascom's Naguib Sawiras told ArabicNews.com that the increase came after distributing 0.6 shares (per share) for free to each shareholder, which led to a reduction in the share price in last week's transactions from 2,775 Egyptian pounds to 2,450 per share.

On the other hand, Orascom Holding and Hotels Company presented a request to the Egyptian financial market to issue financing bonds worth 200 million Egyptian pounds at an interest of 11.25% for 10 years to become the longest term for bonds issued by a private company in the Egyptian market.