Cairo – Mubasher: Orascom Investment Holding (OIH) revealed the reason behind delaying the publication of the financial statements for the year ended 31 December 2020.

The delay comes due to the demerger of the company implemented at the end of the fourth quarter (Q4) of 2020 and the subsequent changes in the capital structure and ownership rights, the company said in a bourse disclosure on Wednesday.

The board of directors will hold a meeting soon to approve the financial statements for 2020.

During the first nine months of 2020, the company incurred consolidated net losses of EGP 17.89 million, down from EGP 92.4 million in the corresponding period in 2019, including minority shareholders’ rights.