Orange purchases 9.238 million shares amid strategy to retire securities

CAIRO – 18 November 2018: The Egyptian Exchange (EGX) announced Sunday that it executed a purchase order for Orange Misr Telecom for 9.238 million shares at a price of LE 17.29 per share; this move comes as part of the company’s plan to retire the securities.

In similar news, on November 30, 2018, Global Telecom Holding agreed to extend the maturity date of the $100 million revolving credit facility from VION, a three-month extension under the same terms and conditions. They also agreed to amend Articles 17 and 48 of the company’s statute.

The EGX announced that Tuesday, November 2018, will be an official holiday in observance of Profit Mohamed’s Birthday (Mawlid el-Nabawy); business will resume as usual Wednesday.