Cairo – Mubasher: Sustainable Capital Africa Alpha Fund increased its stake in Orascom Construction Plc to 6.13%.

By 9 September 2019, the fund raised its ownership in the company to 5.87% from 5.13% previously acquired on 1 September, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

On 10 September, Sustainable Capital Africa Alpha Fund bought 167,461 shares at an average price of $6.4531 apiece as well as 137,500 shares at an average price of EGP 108.9160 a share, raising its stake to 6.13%, the statement added.

The company’s capital reaches EGP 116.76 million, distributed over 116.76 million shares at a nominal value of EGP 1 per share.

During the first half of 2019, Orascom Construction, listed on the EGX and Nasdaq Dubai, logged a consolidated profit of $67.2 million, compared to $87 million in the corresponding period a year earlier.