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Orascom Construction says 52% owned by Sawiris family

Orascom Construction says 52% owned by Sawiris family
Photo Credit: Arabianeye-Reuters
Orascom Construction
OC
8.65% 6.21 0.49

Cairo-Mubasher: Orascom Construction Limited said the Sawiris family and their owned entities hold 52.01% of the company’s issued capital, or 60.2 million common shares listed on the Egyptian Exchange and NASDAQ Dubai.

Nassef Sawiris and his owned entities hold the biggest share in the company’s capital, 27.9% or 32 million shares, OC said in a bourse statement Sunday.

Onsi Sawiris and his owned entities hold a 16.36% stake or 19.3 million shares in OC, while Samih Sawiris and his owned entities hold the lowest stake at 6.75% or 7.974 million shares.

OC stock debuted on Egypt’s exchange 11 March  after it finalised steps to list on NASDAQ Dubai on 9 March.

OC is considered the first company to dual list on NASDAQ Dubai and Egypt.

Established in January 2015, and located at Dubai International Financial Centre (DIFC), OC operates with $105 million capital, divided into 105 million shares at $1 par value each.