By: Heba El-Kordy
Cairo – Mubasher: The stock of Orascom Investment Holding (OIH) continued its upward trend on Monday, hitting its highest level since September 2019 as trading on the stock will be suspended on Thursday, 11 February.
At 11:08 a.m. Cairo time, OIH’s stock surged by 9.27% to EGP 0.66 after generating EGP 94.61 million in turnover through the exchange of 143.41 million shares.
On Sunday, OIH submitted a request to the Egyptian Exchange (EGX) to halt trading on the company’s shares as of Thursday to allow the company to spin out several financial services companies into Orascom Financial Holding (OFH).
In October 2020, the company’s shareholders approved the demerger of the company in accordance with the horizontal demerger method.
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
