Following completion of Orascom Telecom Holding’s (OTH) demerger into two separate entities, the new shares of those companies are expected to be listed on the Egyptian Stock Exchange (EGX) today[Tuesday, 3 January 2012].
In an email to TelecomFinance,…
Following completion of Orascom Telecom Holding’s (OTH) demerger into two separate entities, the new shares of those companies are expected to be listed on the Egyptian Stock Exchange (EGX) today[Tuesday, 3 January 2012].
In an email to TelecomFinance, a spokesperson confirmed the information but added: “This is the listing only. Trading of the shares will not resume until the next day after we publish the disclosure.”
In late November, OTH suspended trading of its ordinary shares on the EGX until the company is split between an entity, which retains the OTH name, and Orascom Telecom Media and Technology Holding (OTMT).
The latter will hold various investments in media, technology and telecom companies that are currently controlled by OTH. These investments include stakes in Mobinil, ECMS, OT Ventures and Middle East and North Africa for Sea Cables.
The company said, when the suspension of trading was announced, that each OTH ordinary shareholder would receive one OTMT share for each ordinary OTH share.
