Sustainable Capital Africa Alpha Fund raises stake in Orascom Construction
Sustainable Capital Africa Alpha Fund increased its stake in Orascom Construction Plc to 11.11% of the company’s total outstanding shares on 1 June 2021.
The Fund has purchased 34,400 shares in the company at a price of EGP 80 per share, increasing its stake to 11.11%, according to a bourse filing on Thursday.
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On 31 May 2021, the Fund raised its ownership to 11.08% of total outstanding shares.
It is noteworthy to mention that during the first quarter (Q1) of 2021, the net profits attributable to the owners of Orascom Construction Plc decreased by 4.4% to $23.9 million, compared to $25 million in the year-ago period.
