href=”http://www.ocinv.nl/”> OCI N.V. had formally filed a mandatory tender offer (MTO) to acquire all outstanding ordinary shares of Orascom Construction Industries S.A.E. (OCI S.A.E.), it was announced on Monday.

Orascom is listed on the Egyptian Stock Exchange (EGX) with the Egyptian Financial Supervisory Authority (EFSA).

OCI .N.V is a subsidiary of Orascom Construction Industries SAE (OCI SAE) and is publicly traded company on the NYSE Euronext Amsterdam.

On Monday, OCI .N.V said the ordinary shares total 47.169.862, representing 22.5 percent of OCI S.A.E.’s total outstanding shares. The remaining 75.7 percent of OCI S.A.E.’s shares were converted to OCI N.V. shares through the Company’s Global Depository Receipts (GDR) Exchange Offer.

On 18 January this year, OCI N.V. launched an exchange offer to acquire all of the outstanding Regulation S global depositary receipts (GDRs) of Orascom Construction Industries S.A.E. in exchange for ordinary shares in OCI N.V.

As of the latest filings on 14 February 2013, GDR holders holding a total of 156.542.609 GDRs (being 98.8 percent of Orascom Construction Industries’ GDRs and representing 75.7 percent of total shares outstanding) had accepted the offer to exchange their GDRs for OCI N.V. shares.

Trading of OCI N.V. shares on the NYSE Euronext in Amsterdam began on 25 January 2013. OCI N.V. has confirmed that the offer was wholly-unconditional.