Orascom Construction to obtain IPO in February: Nassef Sawiris

Orascom Construction Ltd, the Engineering and Construction branch of Orascom Construction Industries NV (OCI), will obtain an initial public offering (IPO) in February 2015, CEO Nassef Sawiris told Daily News Egypt.

On Thursday, the company reported that its Orascom Construction will pursue a dual listing in Egypt and the United Arab Emirates, adding that “preparations for the separation of the Engineering and Construction Group from OCI NV are underway”.

The company will include all OCI NV’s construction assets and subsidiaries. The company will also own 50% stake in the BESIX Group, a group of industrial companies operating in construction, roads, infrastructure, environmental, concessions and property development.