OCI N.V. announced today that it has been classified in MSCI and FTSE indices to reflect the buyout of Orascom Construction Industries S.A.E. (OCI S.A.E.) (OCIC.CA).
MSCI announced that OCI S.A.E. will now be deleted from the MSCI Egypt Index as of the close of business on August 13 and OCI N.V. will be added to the mid-cap segment of the MSCI Netherlands Index. MSCI will likely issue a notice 10 days prior to the index implementation.
OCI N.V. will be admitted to the MSCI Netherlands Index with 201,616,948 shares. During the next six months, this figure is expected to change as OCI N.V. continues to buyout the remaining shares on the Egyptian Stock Exchange (EGX) for EGP 255 per share. The Company will issue intermittent updates with the regards to any changes in share count.
Similarly, FTSE announced that OCI S.A.E. will now be deleted from the FTSE All World Index and the FTSE All-Emerging Index and OCI N.V. will be added to the FTSE All World Index, the FTSE World Index Ex-Multinationals and the FTSE Global Style Index. The implementation took place on 31 July 2013 and effective trading will begin on 1 August 2013.
In addition to these index changes, OCI N.V. is taking the necessary steps to convert the Company’s primary trading line currency on the NYSE Euronext in Amsterdam from US Dollars to Euros. Further details on the mechanics of the change will be announced in due course.
