Key Developments: Orascom Construction Industries SAE (OCIC.CA)

OCIC.CA on Cairo Stock Exchange

255.00EGP
1 Jun 2014
Price Change (% chg)

£-14.00 (-5.20%)
Prev Close
£269.00
Open
£255.00
Day's High
£255.00
Day's Low
£255.00
Volume
10
Avg. Vol
350
52-wk High
£370.00
52-wk Low
£214.20

Search Stocks

Latest Key Developments (Source: Significant Developments)

Orascom Construction Industries SAE appoints external auditors for FY 2014
Wednesday, 23 Jul 2014 08:00pm EDT 

Orascom Construction Industries SAE:Announces the appointment of Hatem Abdul Moneim Mohammed Mountasir as (Executive Partner - KPMG) as the company's external auditors for the fiscal year 2014.  Full Article

Orascom Construction Industries SAE appoints Ousama Anwar Bishai as chairman
Sunday, 13 Apr 2014 08:00pm EDT 

Orascom Construction Industries SAE:Appoints Ousama Anwar Bishai as the company's chairman on April 9.  Full Article

Orascom Construction Industries SAE Announces No Dividend for FY 2012
Tuesday, 3 Sep 2013 08:00pm EDT 

Orascom Construction Industries SAE announced that its Board of Directors has decided not to pay any dividend for the fiscal year ending December 31, 2012.  Full Article

Orascom Construction Industries SAE Secures Contract In Algeria
Thursday, 29 Aug 2013 04:20am EDT 

Orascom Construction Industries SAE announced that the OCI Construction Group has been awarded a contract by Technip France (Technip) to execute greenfield and brownfield work at Sonatrach's Algiers Refinery in Sidi Arcine, located approximately 15 kilometres from the Port of Algiers. Technip is the Engineering, Procurement and Construction (EPC) contractor on site and OCI Algeria, a wholly-owned subsidiary of the OCI Construction Group, will execute some of the civil works, paving works, underground piping and related brownfield construction work as part of the rehabilitation and adaptation of the refinery.  Full Article

Orascom Construction Industries SAE Announces Joint Venture Company with Sonatrach SPA Commercial Production Commencement
Sunday, 11 Aug 2013 08:00pm EDT 

Orascom Construction Industries SAE (OCI) announced that, Sorfert Algerie, a 2.1 million metric ton capacity Greenfield nitrogen fertilizer complex owned in partnership with Sonatrach SPA , has commenced commercial production. The full ramp-up of both production lines along with exports will be achieved by the end of August 2013. Sorfert is owned by a 51/49 OCI and Sonatrach SPA partnership and was constructed by OCI.  Full Article

MSCI and FTSE Announces Index Changes For Orascom Construction Industries SAE
Thursday, 1 Aug 2013 03:04am EDT 

MSCI announced that Orascom Construction Industries SAE will be deleted from the MSCI Egypt Index as of the close of business on August 13 and OCI N.V. will be added to the mid-cap segment of the MSCI Netherlands Index. MSCI will likely issue a notice 10 days prior to the index implementation. OCI N.V. will be admitted to the MSCI Netherlands Index with 201,616,948 shares. During the next six months, this figure is expected to change as OCI N.V. continues to buyout the remaining shares on the Egyptian Stock Exchange (EGX) for EGP 255 per share. Similarly, FTSE announced that OCI S.A.E. will be deleted from the FTSE All World Index and the FTSE All-Emerging Index and OCI N.V. will be added to the FTSE All World Index, the FTSE World Index Ex-Multinationals and the FTSE Global Style Index. The implementation took place on 31 July 2013 and effective trading will begin on August 1, 2013.  Full Article

OCI N.V. Acquires 97.44% Of Orascom Construction Industries SAE
Monday, 29 Jul 2013 02:00am EDT 

OCI N.V. announced that as of the closing filings on July 28, 2013, OCI N.V. expects to own 97.44% of Orascom Construction Industries SAE corresponding to 201,616,948 as a result of the tender offer launched on June 27, 2013. The remaining shares in OCI S.A.E. include 0.47% in Global Depository Receipts (GDRs) on the London Stock Exchange, 0.51% in American Depository Receipts (ADRs) on the New York Stock Exchange, and 1.58% on the Egyptian Stock Exchange. A total of 15,714,488 shares, representing 31.31% of the offer size have elected to convert into OCI N.V. A total of 29,180,180 shares, representing 58.13% of the offer size, have elected the cash offer. OCI N.V.'s shares outstanding now total 201,616,948 shares, including 87,333,575 shares of free float, representing 43.32%. Settlement of the cash and share elections will be completed in five business days.  Full Article

Orascom Construction Industries SAE and Sonatrach SPA Joint Venture to Commence Commercial Production in August
Monday, 15 Jul 2013 08:00pm EDT 

Orascom Construction Industries SAE announced that Sorfert Algerie, 2 million metric ton capacity Greenfield nitrogen fertilizer complex owned by the Company in partnership with Sonatrach SPA, has restarted operations on train one and has begun commissioning works on train two. The commercial production is expected to commence in August 2013 with exports following suit by the end of the month.  Full Article

Orascom Construction Industries SAE's Orascom Saudi Limited Company Secures USD420 Million In Infrastructure Projects In Saudi Arabia
Tuesday, 2 Jul 2013 02:20am EDT 

Orascom Construction Industries SAE announced that the OCI Construction Group, through its subsidiary Orascom Saudi Limited Company (OSL), has concluded negotiations for the award of infrastructure contracts worth a combined value of SAR1.6 billion (USD420 million). The projects will be executed at several locations in Saudi Arabia, where the Construction Group is executing approximately USD790 million worth of work, excluding these new contracts. OCI expects to formally sign the contracts in the coming weeks.  Full Article

Oci NV Receives Final Regulatory Approval to Launch Tender Offer for Orascom Construction Industries SAE
Tuesday, 25 Jun 2013 10:30am EDT 

Oci NV announced that it has received approval from the Egyptian Financial Supervisory Authority (EFSA) to launch its proposed tender offer for Orascom Construction Industries SAE's outstanding ordinary shares listed on the Egyptian Stock Exchange (EGX). OCI NV will offer all shareholders of Orascom Construction Industries SAE an Exchange Offer to convert in to OCI NV as well as a cash alternative of EGP 255 per share. The offer will launch on June 27, 2013 and will conclude on July 28, 2013.  Full Article

Orascom sheds assets in Egypt as it restructures business

ZURICH, May 25 - Swiss-listed Orascom said on Sunday it would divest stakes in a number of non-core assets in Egypt as it restructures its business in the region, valuing the sale at up to 130 million Swiss francs ($145.13 million).

Search Stocks