{"id":634302,"date":"2018-01-11T04:01:00","date_gmt":"2018-01-11T04:01:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/demystifying-whats-going-on-with-orange-egypts-egx-listing\/"},"modified":"2018-01-11T04:01:00","modified_gmt":"2018-01-11T04:01:00","slug":"demystifying-whats-going-on-with-orange-egypts-egx-listing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/demystifying-whats-going-on-with-orange-egypts-egx-listing\/","title":{"rendered":"Demystifying what\u2019s going on with Orange Egypt\u2019s EGX listing"},"content":{"rendered":"

<\/a> Demystifying what\u2019s going on with Orange Egypt\u2019s EGX listing:<\/strong> To the confusion of many in the market (ourselves among them, if we\u2019re to be frank), there are two things happening at Orange Egypt. A statement to the EGX yesterday (pdf)<\/a> clears things up. First, Orange is in the implementation phase of an EGP 15.4 bn rights issue at par<\/strong>, the subscription period for which will close on 28 January. The issue of the company raising its free float to a minimum of 5% \u2014 against a current float of about 1% \u2014 is entirely unrelated, the company said. On that separate front, Orange Egypt says it\u2019s \u201cexamining all options and appropriate timings\u201d to increase its free float to at least the minimum<\/strong>. Doing so, it says, is highly dependent on market conditions \u2014 and the appetite of potential investors. Orange Egypt could face mandatory delisting if it doesn\u2019t meet the minimum float requirement. Any offering or mandatory delisting would see shares priced on the basis of a fair value study that the company expects would result in something \u201cnot be materially different\u201d from the EGP 10.91 per share price posted on EGX screens on 20 December.<\/p>\n","protected":false},"excerpt":{"rendered":"

Demystifying what\u2019s going on with Orange Egypt\u2019s EGX listing: To the confusion of many in the market (ourselves among them, if we\u2019re to be frank), there are two things happening at Orange Egypt. A statement to the EGX yesterday (pdf) clears things up. First, Orange is in the implementation phase of an EGP 15.4 bn […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-634302","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"729a9cba-92ff-4d02-97a3-9d478834cfdb","order":"0","is_powered_by":true,"section_story_id":"97626070-f5cd-412b-a5b9-3c057c08aab8","story_type":"1","photo_url":"","photo_position":"above","related_issue":[634286],"teaser":"","voice_url":""},"yoast_head":"\nDemystifying what\u2019s going on with Orange Egypt\u2019s EGX listing - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/demystifying-whats-going-on-with-orange-egypts-egx-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Demystifying what\u2019s going on with Orange Egypt\u2019s EGX listing\" \/>\n<meta property=\"og:description\" content=\"Demystifying what\u2019s going on with Orange Egypt\u2019s EGX listing: To the confusion of many in the market (ourselves among them, if we\u2019re to be frank), there are two things happening at Orange Egypt. 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The company\u2019s board of directors agreed to voluntarily delist from the exchange last year after failing to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637482,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/16\/orange-egypt-looking-to-convert-parent-company-loan-to-equity\/","url_meta":{"origin":634302,"position":1},"title":"Orange Egypt looking to convert parent company loan to equity","author":"enterpriseam admin","date":"16 November 2017","format":false,"excerpt":"Orange Egypt said it is working closely with the EGX and the Financial Regulatory Authority (FRA) to complete a capital increases through converting a EUR 750 mn loan from its parent company to capital, according to a bourse disclosure. The company\u2019s EGM will meet on 4 December to approve the\u2026","rel":"","context":"In "Telecoms + ICT"","block_context":{"text":"Telecoms + ICT","link":"https:\/\/enterpriseam.com\/egypt\/category\/telecoms-ict\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631601,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/22\/fra-considering-new-listing-regulations-that-would-raise-the-minimum-requirement-for-free-float\/","url_meta":{"origin":634302,"position":2},"title":"FRA considering new listing regulations that would raise the minimum requirement for free float","author":"enterpriseam admin","date":"22 March 2018","format":false,"excerpt":"FRA considering new EGX listing regulations that would raise the minimum requirement for free float: The Financial Regulatory Authority (FRA) is considering amending EGX listing regulations to raise the minimum requirement for the number of shares that need to be in free float, Deputy Head Khaled El Nashar said yesterday,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630460,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/22\/jean-marc-harion-resigns-as-orange-egypt-ceo\/","url_meta":{"origin":634302,"position":3},"title":"Jean-Marc Harion resigns as Orange Egypt CEO","author":"enterpriseam admin","date":"22 April 2018","format":false,"excerpt":"MOVES- Jean-Marc Harion has resigned as Orange Egypt\u2019s CEO, the company announced in a statement to the EGX (pdf). 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Among those receiving warnings are Orange Egypt and QNB\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645590,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/25\/earnings-watch-orange-egypts-losses-grow-vodafone-egypt-revenue-snapshot\/","url_meta":{"origin":634302,"position":5},"title":"Earnings watch: Orange Egypt\u2019s losses grow, Vodafone Egypt revenue snapshot","author":"enterpriseam admin","date":"25 July 2017","format":false,"excerpt":"EARNINGS WATCH- Orange Egypt reported an increase in net loss after tax to EGP 1.10 bn in 1H2017 from EGP 33.4 mn in the same period last year. Revenues rose 6.33% y-o-y to EGP 6.12 bn in 2Q2017. 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