Cairo -Mubasher: The general assembly meeting of Orascom Construction approved the full acquisition of a wholly owned subsidiary of OCI N.V. (OCI).
The subsidiary will be demerged and will hold all of OCI’s material assets and liabilities, according to a bourse filing.
The transaction will be executed through the issuance of new Orascom Construction shares at a ratio of 0.46 share per OCI share. Each new share will have a nominal value of $1 and carry an issuance premium of $12.79.
Meanwhile, these new shares will be allocated to OCI, in addition to the 561,803 shares it currently holds in the EGX-listed company.
The shareholders of Orascom Construction also greenlighted increasing its share capital to $207.44 million from $110.24 million.
The hike will be implemented through the issuance of 97.20 million new shares, each with a nominal value of $1 and an issuance premium of $12.79 per share.
Following the capital increase, the total number of shares will rise to 207.44 million from 110.24 million.
Moreover, the general assembly authorized the board to allocate the new shares to OCI’s shareholders and to suspend any related pre-emptive rights.
The board, or its delegates, is empowered to take all necessary actions to execute the transaction, including issuing and allotting the shares and applying for their listing on the Abu Dhabi Securities Exchange (ADX).
The authorization also covers coordination with relevant regulatory and governmental authorities in the UAE and abroad, including the Abu Dhabi Global Market (ADGM), the Egyptian Financial Regulatory Authority (FRA), Misr for Central Clearing, Depository and Registry (MCDR), and the Egyptian Exchange (EGX).
In December 2025, Orascom Construction and OCI Global agreed to establish a joint infrastructure and investment platform in Abu Dhabi to enhance reach, diversification, and growth prospects.
