Orascom Development Holding AG successfully completes rights offering
On 4 October 2010, Orascom Development Holding AG (“Orascom”), a leading developer of fully integrated towns, completed a CHF 185 million capital increase by way of a rights offering to its shareholders and holders of Egyptian Depositary Receipts.
The net proceeds of the offering will be used to fund Orascom’s development projects and for general corporate purposes. The syndicate of banks comprised Credit Suisse, Deutsche Bank and UBS Investment Bank acting as Joint Lead Managers and Joint Bookrunners. Bär & Karrer acted as Swiss legal adviser to Orascom. The team included Thomas U. Reutter, Sten E. D. Rasmussen, Harald Zeiter and Claudio Bazzi.
For more information please visit www.baerkarrer.ch