OFH receives nod from FRA for capital cut

Updated 4/19/2023 12:20:00 PM
OFH receives nod from FRA for capital cut

Arab Finance: The Financial Regulatory Authority (FRA) approved publishing the disclosure form submitted by Orascom Financial Holding’s (OFH) board for an issued capital decrease, FRA reported on April 19th.

Hence, the capital shall be cut by writing off 445.759 million treasury shares from EGP 1.626 billion to EGP 1.487 billion, to be distributed over 4.766 billion shares at a par value of EGP 0.31 per share.

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

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