Orascom Construction PLC, the engineering giant controlled by Egypts billionaire Sawiris family , began trading on the Abu Dhabi Securities Exchange on Tuesday, moving its primary listing from Nasdaq Dubai to tap deeper liquidity and align itself with the Gulfs largest capital pools.
Shareholders last month approved the shift and the transfer of Orascoms incorporation from the Dubai International Financial Center to the Abu Dhabi Global Market. Its secondary listing on the Egyptian Exchange remains unchanged, leaving Orascom dual-listed on ADX and EGX.
The Sawiris clanone of the Middle Easts wealthiest families with sprawling interests in construction, telecommunications, and financehas long used Orascom as a cornerstone of its global investments. The move places the company squarely in Abu Dhabis orbit at a time when the emirate is courting big-ticket listings to cement its status as a financial hub.