Cairo – Mubasher: The Egyptian Exchange (EGX) has suspended trading on Orascom Development Egypt’s stock as of Monday, 22 October.

Trading on the stock will remain on hold until the Egyptian bourse receives a statement from the company, the EGX highlighted in a statement on Monday.

Orascom Development previously announced that the extraordinary general meeting (EGM) would be held on Thursday, 8 November.

In March, the EGM approved to apply the motivation and reward system by selling a number of shares at the nominal value of the stock in accordance with the related ministerial decree.