Orascom Construction Asks Shareholders to Approve Move to Abu Dhabi Stock Exchange
Orascom Construction wants to get approval from its shareholders to move its main stock listing from Nasdaq Dubai to the Abu Dhabi Securities Exchange (ADX).
Meeting to Decide
The company will hold a special meeting in Dubai on August 12 to vote on this change. If approved, the company will still keep its secondary listing on the Egyptian Stock Exchange (EGX).
Shareholders will also vote on changing the company’s legal registration from the Dubai International Financial Centre (DIFC) to the Abu Dhabi Global Market (ADGM). This would let the company follow ADGM business rules instead.
At least 75% of shareholders must agree for the changes to be approved.
Dividend Payment
The company also said that its board has approved an interim dividend of $0.25 per share. This will be paid on August 13.
Shareholders with stock on Nasdaq Dubai will receive the dividend in US dollars. Those holding shares on the Egyptian Exchange will get the payment in Egyptian pounds.
Recent Projects
In April, a team led by Orascom Construction began operating a 500 MW wind farm in Ras Ghareb, Egypt—six months ahead of schedule.
This project is being built by Red Sea Wind Energy, which includes Orascom Construction (25%), Engie from France (35%), Toyota Tsusho (20%), and Eurus Energy (20%). The project is under a 25-year “build-own-operate” model.
In March, Orascom Construction and Técnicas Reunidas signed a $2.6 billion deal to build a 3GW gas power plant in Saudi Arabia.
So far in 2024, Orascom has won $3 billion in new contracts. Half of this is in the Middle East and Africa, including projects like expanding the Suez Canal Container Terminal, building the walkway at the Grand Egyptian Museum, and improving road networks in Egypt.
Published: 29th July 2025
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