Cairo – Mubasher: Orascom Investment Holding  (OIH) announced the proforma financial statements of the demerged and demerging companies for 2018 and 2019.

The equity rights and liabilities of the demerging company reached EGP 2.18 billion at the end of 2019 and EGP 4.22 billion at the end of 2018, according to a bourse disclosure on Tuesday.

In addition, the equity rights of the demerged company amounted to EGP 2.4 billion at the end of 2019 and EGP 2.65 billion at the end of 2018.

The extraordinary general meeting (EGM) of OIH approved the demerger of the company in accordance with the horizontal demerger method.

During the first half (H1) of 2020, OIH reported net profits of EGP 1.714 million, against net losses of EGP 153.46 million in the same period in 2019, including minority shareholders’ rights.