Cairo - Mubasher: The Egyptian Exchange (EGX) announced it received Tuesday a disclosure report from Orascom Hotels and Development (OHD) as regards reducing the company's capital through the cancellation of treasury stocks.

Following the capital cut, the company's capital will be EGP 1.108 billion, distributed across 221.66 million shares at EGP 5 par value each.

OHD earlier saw net profits of EGP 270.12 million in the first nine months of 2015, compared with EGP 41.62 million for the similar period a year earlier.