Sawiris Family holds 52% of Orascom Construction

Sawiris family, one of Egypt’s two wealthiest families, hold 52.01% of Orascom Construction Limited’s issue capital, or 60.2 million common shares listed on both Egypt and Dubai bourses.

Orascom Construction Limited (OC) said in a statement on Sunday that Sawiris family and their owned entities hold 52.01% of the company’s issued capital, or 60.2 million common shares listed on the Egyptian Exchange (EGX) and NASDAQ Dubai.

Nassef Sawiris and his owned entities have the biggest share in OC’s capital or 27.9%, or 32 million shares, the company added.

In addition, Onsi Sawiris and his owned entities hold a 16.36% stake or 19.3 million shares in OC; while Samih Sawiris and his owned entities own the lowest stake at 6.75%, or 7.974 million shares.

OC stock debuted on Egypt exchange Wednesday, March 11, after it finalised steps to list on NASDAQ Dubai on Monday, March 9.

OC is considered the first company to dual list on NASDAQ Dubai and Egypt bourse.

Established in January, 2015, and located at Dubai International Financial Centre (DIFC), OC operates with US$105 million capital, divided into 105 million shares at US$1 par value each.