Rights Issue Underlines Orascom's Global Ambitions

Egyptian construction major Orascom Development has announced plans for a rights issue worth CHF185 (US$183mn) in order to fund the firm's growth and capitalise on low construction costs. CFW notes that the news comes as no surprise and is in keeping with Orascom's ambitious growth strategy, of seeking to become a leading contractor in the Middle East and North Africa, as well as other lucrative markets.

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