OCI N.V. announced on Sunday that as of the closing filings on 28 July 2013, OCI N.V. expects to own 97.44% of Orascom Construction Industries S.A.E. (OCI S.A.E.) (OCIC.CA) corresponding to 201,616,948 as a result of the tender offer launched on 27 June 2013.
The remaining shares in OCI S.A.E. include 0.47% in Global Depository Receipts (GDRs) on the London Stock Exchange, 0.51% in American Depository Receipts (ADRs) on the New York Stock Exchange (NYSE), and 1.58% on the Egyptian Stock Exchange (EGX).
A total of 15,714,488 shares, representing 31.31% of the offer size have elected to convert into OCI N.V. A total of 29,180,180 shares, representing 58.13% of the offer size, have elected the cash offer.
OCI N.V.’s shares outstanding now total 201,616,948 shares, including 87,333,575 shares of free float, representing 43.32%. The balance of the shares continues to be held by the Sawiris family.
Settlement of the cash and share elections will be completed in five business days.
