Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
Orascom Construction, an Egyptian construction company, is all set to delist from Nasdaq Dubai and relist at Abu Dhabi Securities Exchange (ADX).
In a statement, Orascom said: “Shareholders at a meeting held on August 12 approved special resolutions to migrate the company’s primary listing from Nasdaq Dubai to ADX and to transfer the company’s incorporation from the Dubai International Financial Center (DIFC) to the Abu Dhabi Global Market (ADGM).”
The company’s secondary listing on the Egyptian Exchange (EGX) will remain unchanged.
According to the company, the last day of trading on Nasdaq Dubai will be September 3, 2025, with the cancellation of its listing on September 10. Trading on ADX will commence the following day, September 11, under the ticker symbol ORAS.
The opening price on ADX will be set at the last closing price on EGX on September 10, and converted into dirhams using the Central Bank of the UAE’s exchange rate.
Shares held on Nasdaq Dubai at the time of suspension will automatically be transferred to ADX.
To trade on ADX, shareholders are required to obtain an ADX National Investor Number (NIN) and open a trading account with an ADX-accredited broker.
Orascom has requested investors to provide their NIN and trading account details to the company’s investor relations team. Shareholders who have not yet completed these steps by the listing date will still see their holdings transferred, but ADX will record the shares until the account details are finalised.
Transfers between Nasdaq Dubai and EGX will remain available until the close of trading on September 3. After that date, trading will only continue on EGX and, from September 11, on ADX.
The company has also begun the process of transferring its incorporation from DIFC to ADGM, a move expected to be completed following regulatory approvals.
Orascom Construction is a leading global engineering and construction contractor, primarily focused on infrastructure, industrial and high-end commercial projects in the Middle East, Africa and the United States. It also invests in concessions, owns 50% of BESIX Group, and manages a building materials, facility management and equipment services portfolio.
