OCI’s Stocks Surge 2.19% Backed By OCI NV’s Exchange Offer

Orascom Construction Industries – OCI (OCIC.CA)’s stock has climbed by 2.19% during Egyptian Exchange’s opening session on Sunday backed by OCI N.V.’s announcement of launching an exchange offer to acquire all of the outstanding Regulation S global depositary receipts (GDRs) of OCI in exchange for ordinary shares in OCI N.V.

OCI’s traded value soared to EGP 11.244 million; while the volume of trades hit 41 thousand securities exchanged through 233 transactions during Sunday opening.

OCI N.V. is a subsidiary of Orascom Construction Industries SAE (OCI SAE).