B Investments' board approves share capital hike

This decision stems from a non-cash share swap transaction with Orascom Financial Holding (OFH) shareholders

Staff Writer, Arab Finance

April 23, 2024

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B Investments' board of directors has thumbed up raising the firm’s share capital by issuing around 58.338 million shares, as per a disclosure.

This decision stems from a non-cash share swap transaction with Orascom Financial Holding (OFH) shareholders, wherein each share in B Investments is exchanged for 56.76 shares in OFH.

Notably, this transaction was initiated after 3.311 billion shares in OFH, constituting approximately 70.1% of total OFH’s capital (excluding treasury shares), were elected to swap.

To facilitate this transaction seamlessly, the board also greenlit the amendment of articles 6 and 7 of the company's articles of association.

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