Arab Finance: The board of directors of Orascom Financial Holding (OFH) has approved cutting the company’s issued capital via writing off 445.759 million treasury shares, representing 8.5% of total issued shares, according to a statement sent to the Egyptian Exchange (EGX) on April 3^rd.

Accordingly, the issued capital will narrow down from EGP 1.626 billion to EGP 1.487 billion, distributed over 4.766 billion shares at a nominal value of EGP 0.31 per share.

Founded in 2020, OFH is a technology-driven financial service investment company.