"Historic Jump": Orascom Construction Shares Surge in Abu Dhabi Revealing a Stark Price Gap with Cairo

In a surprising and historic move, Orascom Construction shares surged by over 65% in their initial trading on the Abu Dhabi Securities Exchange (ADX) after the company moved its primary listing from the nearby Nasdaq Dubai. This significant increase created a wide gap with the company's share price on the Egyptian Exchange (EGX), where it rose by only 4% in the same morning session.

This listing is part of the ADX's broader efforts to attract more companies, aiming to deepen the market and expand its investor base. The emirate is actively working to diversify its economy away from oil, and the ADX's main index has already climbed by approximately 6% since the beginning of the year. Orascom Construction is now dual-listed in both Cairo and Abu Dhabi.

A Glaring Price Disparity

According to a previous company statement, the opening price on the ADX was determined based on the last closing price on the EGX on September 10, 2025, converted to UAE dirhams. However, a significant disparity emerged.

In Abu Dhabi, the share traded at 45 dirhams, while on the EGX, its price was 399 Egyptian pounds, equivalent to only 30.4 dirhams. Although the stock pared some of its gains by the end of the day, it still closed at 38 dirhams, marking a 26.4% increase.

Strategic Relocation of Activities

This listing move coincides with the decision of Nassef Sawiris, the company's founder and primary shareholder (holding a 42% stake), to relocate his family's investment office to Abu Dhabi. He is joining a growing trend of prominent investors establishing a presence in the UAE's capital.

Orascom Construction is a leader in engineering and construction, executing major projects in infrastructure, industrial, and commercial sectors across the Middle East, Africa, and the United States. In the second quarter of 2025, the company reported revenues of $1.1 billion, a 60% year-on-year increase, with shareholder earnings rising by 198% to $57.6 million during the same period.