Orascom Development Holding AG
announces successful completion of its rights offering
Orascom Development Holding AG / Key word(s): Capital Increase/Capital Increase Ad hoc announcement pursuant to Art. 53 LR. |
Press Release
FOR RELEASE IN SWITZERLAND – NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN.
Orascom Development Holding AG announces successful completion of its rights offering
Altdorf, 28 April 2023 – Orascom Development Holding AG (the "Company") successfully completed its rights offering. The Company issued 19,228,617 new registered shares in the capital increase. As a result, the total issued share capital of the Company now amounts to CHF 299,111,830.00 divided into 59,822,366 registered shares with a nominal value of CHF 5.00 each.
The new shares were first traded on SIX Swiss Exchange on 28 April 2023.
About Orascom Development Holding (ODH):
ODH is a leading developer of fully integrated destinations that include hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. ODH's diversified portfolio of destinations is spread over 7 jurisdictions (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro, and United Kingdom), with primary focus on touristic destinations. ODH currently operates nine destinations: four in Egypt (El Gouna, Taba Heights, Makadi Heights and Byoum), The Cove in the United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro, and Andermatt in Switzerland. The shares of ODH are listed on SIX Swiss Exchange. ODH recently launched O West, the latest addition to its portfolio and its first project in Cairo, Egypt, located in the Sixth of October City.