Orascom Development Holding AG

DGAP-Adhoc: Orascom Development successfully completes the sale of a 15% stake of its Egyptian subsidiary, Orascom Hotels and Development (OHD). The offering was oversubscribed 3.8x and generated EGP 506.1 million (approximately USD 70.7 million, CHF ...

EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Miscellaneous/Miscellaneous
Orascom Development successfully completes the sale of a 15% stake of
its Egyptian subsidiary, Orascom Hotels and Development (OHD). The
offering was oversubscribed 3.8x and generated EGP 506.1 million
(approximately USD 70.7 million, CHF 69.9 million)

05.01.2015 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Press Release

Orascom Development successfully completes the sale of a 15% stake of its
Egyptian subsidiary, Orascom Hotels and Development (OHD). The offering was
oversubscribed 3.8x and generated EGP 506.1 million (approximately USD 70.7
million, CHF 69.9 million)

Altdorf/Cairo, 5 January 2015 - Orascom Development Holding (ODH) announces
the completion of subscription in the public offering of its Egyptian
subsidiary OHD, through the sale of 33,294,349 shares at a price of EGP
15.20 (approximately USD 2.12, CHF 2.10) per share. The offering generated
EGP 506.1 million (approximately USD 70.7 million, CHF 69.9 million) in
total proceeds for the Group.  As a result of strong investor demand, ODH
elected to proceed with the sale of a 15% stake in OHD, which is the top
end of the range approved by ODH's Board of Directors.

The offering comprised a tranche of 22,196,233 shares (equivalent to a 10%
stake in OHD) that was marketed exclusively to qualified investors (the
"private placement"), and a tranche of 11,098,116 shares (equivalent to a
5% stake in OHD) for public subscription (the "public offering"). Total
bids received for the private placement and public offering tranches were
approximately EGP 1.25 billion and EGP 667 million respectively. This
translates to an oversubscription of 3.7x and 4.0x the private placement
and public offering tranches respectively. In total, the offering generated
approximately EGP 1.92 billion (approximately USD 267.9 million, CHF 264.8
million) in bids, which is equivalent to an oversubscription of 3.8x.

Execution of the transaction was completed on Sunday January 4th, 2015, and
the first day of resumption of trading of OHD's shares [ORHD.CA] on the
Egyptian Stock Exchange (EGX) is expected to be on Tuesday January 6th,
2015.

This transaction marks the return of OHD's active trading on the EGX since
2008. OHD is the prime high-end resorts developer in the region and the
owner of El Gouna, Taba Heights and Makadi Bay resorts, with a land bank of
45.9 million sqm and 24 hotels with a total of 6,039 rooms, hosting the
premier leisure real estate in Egypt on the Red Sea coast.

The Group was advised by CI Capital and Beltone investment banks as joint
lead arrangers and book runners on this transaction.

About Orascom Development Holding AG

Orascom Development is a leading developer of fully integrated destinations
that include hotels, private villas and apartments, leisure facilities such
as golf courses, marinas and supporting infrastructure. Orascom
Development's diversified portfolio of destinations is spread over eight
jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro
and United Kingdom), with primary focus on touristic destinations. The
Group currently operates seven destinations; three in Egypt El Gouna, Taba
Heights, and Makadi, The Cove in United Arab Emirates , Jebel Sifah and
Salalah Beach in Oman and Andermatt in Switzerland. Orascom Development has
a dual listing, with a primary listing on the SIX Swiss Exchange and a
secondary listing on the EGX Egyptian Exchange.

Contact for Investors:
Sara El Gawahergy
Director of Investor Relations
Tel: +20 100 218 56 51
Tel: +41 418 74 17 11
Email: ir@orascomdh.com

Contact Media Relations
media@orascomdh.com

Disclaimer & Cautionary Statement
The information contained in this e-mail, its attachment and in any link to
our website indicated herein is not for use within any country or
jurisdiction or by any persons where such use would constitute a violation
of law. If this applies to you, you are not authorized to access or use any
such information. Certain statements in this e-mail and the attached news
release may be forward-looking statements, including, but not limited to,
statements that are predications of or indicate future events, trends,
plans or objectives. Forward-looking statements include statements
regarding our targeted profit improvement, return on equity targets,
expense reductions, pricing conditions, dividend policy and underwriting
claims improvements. Undue reliance should not be placed on such statements
because, by their nature, they are subject to known and unknown risks and
uncertainties and can be affected by other factors that could cause actual
results and Orascom Development Holding AG's plans and objectives to differ
materially from those expressed or implied in the forward looking
statements (or from past results). Factors such as (i) general economic
conditions and competitive factors, particularly in our key markets; (ii)
performance of financial markets; (iii) levels of interest rates and
currency exchange rates; and (vii) changes in laws and regulations and in
the policies of regulators may have a direct bearing on Orascom Development
Holding AG's results of operations and on whether Orascom Development
Holding AG will achieve its targets. Orascom Development Holding AG
undertakes no obligation to publicly update or revise any of these
forward-looking statements, whether to reflect new information, future
events or circumstances or otherwise. It should further be noted, that past
performance is not a guide to future performance. Please also note that
interim results are not necessarily indicative of the full-year results.
Persons requiring advice should consult an independent adviser.

End of ad hoc announcement

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05.01.2015 News transmitted by EQS Schweiz AG. www.eqs.com - news
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The issuer is responsible for the contents of the release.

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Language:    English
Company:     Orascom Development Holding AG
             Gotthardstraße 12
             6460 Altdorf
             Switzerland
Phone:       +41 41 874 17 17
Fax:         +41 41 874 17 07
E-mail:   ir@orascomdh.com
Internet: www.orascomdh.com
ISIN:        CH0038285679
Valor:       A0NJ37
Listed:      Foreign Exchange(s) SIX


End of News    EQS Group News-Service
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