Abudhabi Securities Exchange Lists Orascom Construction Shares for Public Trading

Orascom Construction's Abu Dhabi Debut Signals Major Infrastructure Investment Shift

Orascom Construction's shares soared over 65% on their first trading day in Abu Dhabi, closing 26.37% higher at AED 38.1, as the Egyptian construction giant completes its strategic pivot from Dubai's NASDAQ to position itself at the heart of the UAE's infrastructure boom. The move reflects a broader trend of companies seeking deeper capital pools and regulatory advantages in Abu Dhabi's increasingly competitive financial ecosystem.

Strong Market Reception Validates Strategic Repositioning

The company's shares peaked at AED 50 before settling at AED 38.1, with 33,890 shares traded across 250 transactions worth AED 1.374 million. This enthusiastic reception pushed Abu Dhabi's market capitalization up by AED 9.27 billion to AED 3.085 trillion, with Orascom contributing AED 3.3 billion in market value at listing.

The strong debut makes Orascom the third company to list in Abu Dhabi in 2025, bringing the total number of listed entities to 104. This performance mirrors successful infrastructure listings in other Gulf markets, where investors have shown strong appetite for companies tied to long-term economic development projects.

Abu Dhabi's Infrastructure Investment Magnet

Abdullah Salem Al Nuaimi, CEO of Abu Dhabi Securities Exchange Group, positioned the listing as a "qualitative addition" that enhances market depth across 12 sectors. The exchange's listed companies recorded the highest profitability levels among GCC markets in the first half of 2025, with net profits reaching AED 88 billion—a 15.6% increase year-on-year.

This profitability advantage explains why companies are increasingly choosing Abu Dhabi over traditional regional financial centers. Unlike Dubai's more diversified approach or Saudi Arabia's focus on domestic champions, Abu Dhabi is positioning itself as the premium destination for infrastructure and energy investments.

Aggressive Growth Targets Signal Confidence

CEO Osama Bishai revealed ambitious plans to increase return on investment from the current 15% to between 50-60% over the coming years. This target, while aggressive, reflects the company's confidence in Abu Dhabi's infrastructure pipeline and regulatory environment.

Orascom's current project portfolio under execution reached $9.6 billion in the first half of 2025, generating $2 billion in revenue and $82.7 million in net profit. The company has distributed over $300 million to shareholders since its March 2025 IPO through dividends and share buybacks, maintaining consistent annual cash dividends since 2018.

Major Water Infrastructure Partnership

The company's commitment to Abu Dhabi extends beyond listing formalities. Orascom is investing in a water treatment concession for ADNOC, with operations beginning in June 2026. The partnership with Metito, ADNOC, and Taqa involves developing, owning, and operating a $2.4 billion seawater treatment and transportation project.

This type of long-term infrastructure investment aligns with Abu Dhabi's strategy to attract companies that contribute to economic diversification rather than simply seeking listing arbitrage opportunities.

Strategic Regulatory Migration

Orascom's board approved transferring its primary listing from NASDAQ Dubai to Abu Dhabi in July, while maintaining its secondary listing on the Egyptian Exchange. The company also relocated its incorporation from Dubai International Financial Centre to Abu Dhabi Global Market.

This regulatory shopping reflects a calculated assessment of where infrastructure companies can access the most favorable capital and regulatory conditions. Abu Dhabi Global Market's legal framework, based on English common law, provides familiar territory for international investors while offering more competitive terms than traditional offshore jurisdictions.

Regional Infrastructure Investment Implications

The success of Orascom's listing validates Abu Dhabi's strategy to become the Gulf's infrastructure investment hub. With projects spanning the Middle East, Africa, and the United States, plus a 50% stake in Bessix and various building materials and facility management ventures, Orascom represents exactly the type of diversified, cash-generating infrastructure play that institutional investors seek.

For investors, this listing provides exposure to infrastructure development across multiple high-growth markets, backed by a company with proven execution capabilities and strong relationships with sovereign wealth funds. The 20.7% annual dividend growth and consistent payout history since 2018 adds defensive characteristics to what could otherwise be a cyclical construction story.

The broader implications suggest Abu Dhabi is successfully positioning itself as the premier destination for infrastructure capital in the region, potentially at the expense of other Gulf financial centers that lack the same combination of regulatory sophistication and project pipeline depth.