Egypt Seeks to Lure OCI N.V. Listing to Offset OCI Exit

Egypt’s bourse is seeking to get OCI N.V. enlisted in order to offset the removal of Orascom Construction Industries S.A.E. (OCI S.A.E.), the chief said on Monday.
Dr. Mohamed Omran, Chairman of the Egyptian Exchange (EGX), further told the Turkish Anadolu Agency that he is working towards convincing Amsterdam-listed OCI N.V. to list on Egypt’s bourse to offset the removal of (OCI S.A.E. that was acquired by the Dutch company last month.

The EGX management will start intensive contacts with officials at the Dutch company, with the aim of listing OCI N.V. on the EGX whether as GDRs or through dual listing, Dr. Omran added.

Egyptian business tycoon Nassef Sawiris owns 54% of the OCI N.V.’s shares, while the Abraaj Group owns around 5.9%. The remaining shares are distributed among entities owned by Bill Gates and other global investments institutions and investors.

OCI N.V. is a leading global nitrogen fertilizer producer and engineering & construction contractor based in the Netherlands. OCI N.V. has recently acquired its former parent company, Orascom Construction Industries S.A.E. (OCI S.A.E.).

The Fertilizer Group owns and operates nitrogen fertilizer plants in the Netherlands, the United States, Egypt and Algeria and has an international distribution platform spanning from the Americas to Asia.
The Fertilizer Group ranks among the world’s top fertilizer producers with a fertilizer production capacity of nearly 7 million metric tons.