Orascom Holding is taking the necessary procedures to voluntary delist its EDRs from the Egyptian stock market EGX, following its board decision on the 26th of December 2016. Minority shareholders who have the right to object before the Swiss Takeover Board TOB within 5 days from the date of the publication of the decision. The extraordinary shareholders meeting has to approve but yet to decide on the date of its meeting.
Most probably this decision is to hedge against potential arbitrage that investors may seek due to recent huge devaluation in the Egyptian pound. Other reasons for similar cases may also be related to a corporate reorganisation or potential sale of shares or material assets at the holding or affiliate companies levels.