Bill Gates is among a group of U.S. investors which has committed $1 billion to purchase a stake in Egyptian construction and fertiliser company OCI NV in one of the largest foreign currency inflows to Egypt since the 2011 revolution that swept Hosni Mubarak from power. OCI NV said on Friday it had launched an exchange offer to acquire all of the outstanding global depositary receipts of parent firm Orascom Construction Industries SAE in exchange for ordinary shares in OCI NV.The transaction also consists of an offer to acquire all of OCI's ordinary shares in exchange for OCI NV shares or a cash amount of 280 Egyptian pounds ($42.41) per share, a 4 percent premium to Thursday's closing price.OCI NV is a wholly owned subsidiary of OCI SAE and the umbrella for OCI's international operations.It was due to start trading on the NYSE Euronext in Amsterdam on Jan. 25, and plans to subsequently launch an American Depository Receipts programme on the New York Stock Exchange, the statement said.
NYSE Euronext is a global operator of financial markets and provider of trading solutions. Shares of NYX traded higher by 0.23% or $0.075/share to $33.08. In the past year, the shares have traded as low as $22.25 and as high as $33.42. On average, 4846830 shares of NYX exchange hands on a given day and today's volume is recorded at 1522285.
Source
