Orascom telecom share split on Thursday

Reuters
1 Min Read

CAIRO: A five-for-one split of Orascom Telecom (OT) shares will take effect on Thursday, the company said in a statement on Tuesday.

The split does not apply to Orascom Telecom global depositary receipts, which after the split will become equivalent to five OT shares instead of one, it added.

The market has largely discounted the effect of the split, brokers said. OT shares closed on Tuesday at LE 396 ($69.53), up 1.5 percent on the day, slightly outperforming the overall market.

TAGGED:
Share This Article
Follow:
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms.