OCI N.V. seeks dual listing for Construction Business in Egypt and UAE OCI N.V. announced its intention to pursue a dual listing of its Engineering & Construction Group in both Egypt and United Arab Emirates. Preparations for the separation of the Engineering & Construction Group from OCI N.V. are underway and the new company is targeting to be listed on the two exchanges during Q1-2015, subject to necessary regulatory approvals as well as Board and shareholder approvals. The new company is expected to be named Orascom Construction Limited. It will include all construction assets and subsidiaries of OCI N.V., as well as the 50% stake in the BESIX Group. Orascom Construction provides international engineering and construction services primarily focused on infrastructure, industrial and high-end commercial projects in United States, Middle East, Africa and Central Asia for public and private clients. Following the spin-off, the Fertilizer & Chemicals Group will constitute OCI N.V.’s core business and will remain listed on Euronext Amsterdam.
Posted on: Sun, 09 Nov 2014 09:48:18 +0000
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