VOL. XLIII

No. 27

3-July-2000

EGYPT

Egypts Orascom Telecom Plans Capital Increase Of $329Mn

On 18 June Egypts blue-chip Orascom Telecoms (OT) announced a capital increase of $329mn at a presentation in Cairo chaired by Hasan Heikal of EFG-Hermes and Jusrin Dudly of Telecel Africa, a South African-based mobile phone company. OT will distribute $225mn in the form of global depository receipts (GDRs) and shares traded on the Cairo Stock Exchange. There will be a 15% stabilization option for 30 days...