Cairo - Mubasher: Orascom Construction's board of directors decided to raise the issued capital to $207.44 million (AED 761.32 million) from $110.24 million (AED 404.59 million).
The capital increase value will be carried out by issuing 97.20 million new shares at a nominal value of $1 each in addition to a share issuance premium of $12.79 per share, according to a bourse disclosure.
Following the capital change process, the number of shares will increase to 207.44 million ordinary shares instead of 110.24 million.
The board's decision to raise the capital comes in line with the approved deal with OCI Global to form an Abu Dhabi-based infrastructure and investment platform for broader growth and diversification.
