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Fund raises stake in Orascom Construction to 8.6%

Fund raises stake in Orascom Construction to 8.6%
The fund has purchased 12,015 shares in Orascom Construction
Orascom Construction
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Mubasher: Sustainable Capital Africa Alpha Fund has raised its ownership in Orascom Construction, listed on Nasdaq Dubai and the Egyptian Exchange (EGX), from 7.61% to 8.61%.

The fund has purchased 12,015 shares at a price of EGP 55 per share, aggregating at an amount of EGP 660,800, according to a company disclosure on Wednesday.

It is noteworthy to mention that during the first nine months of 2019, the company's profits dropped by 16% year-on-year (YoY) to $100.3 million from $119.3 million during the same period of 2018.