Orascom Construction PLC has announced that its board of directors has approved a strategic move to transfer the company’s primary share listing from Nasdaq Dubai to the Abu Dhabi Securities Exchange (ADX). The company will retain its secondary listing on the Egyptian Exchange (EGX), reinforcing its dual-market presence.

Key Developments:

- The transfer is subject to shareholder approval and completion of regulatory procedures.

- Orascom will relocate its legal headquarters from the Dubai International Financial Centre (DIFC) to the Abu Dhabi Global Market (ADGM).

- An Extraordinary General Meeting (EGM) is scheduled for August 12, 2025, to finalize the transition.

Financial Snapshot:

- In Q1 2025, Orascom reported net profits of $27.1 million, down from $49.8 million in the same period last year, due to project delays and arbitration losses.

- Revenue rose 10.6% year-on-year to $847.6 million, signaling operational resilience despite challenges.

Orascom plans to scale back its Egypt-based projects to one-third of its portfolio by 2026, focusing on mega projects in the UAE and Saudi Arabia. Notably, the company secured a $2.6 billion EPC contract to expand the Qurayyah Independent Power Plant in Saudi Arabia.

This move underscores Orascom’s commitment to deepening its footprint in the Gulf’s dynamic capital markets and aligning with investor demand across the region.