On 16 February 2015, OCI N.V. announced that it formally commenced proceedings to effect a demerger of the company’s engineering and construction business from its fertilizer and chemicals business (the Demerger), which was previously announced by the Board of Directors on 6 November 2014.
The Demerger has now been effected. Orascom Construction Limited is currently dual listed on NASDAQ Dubai and the Egyptian Exchange (EGX). As part of the EGX listing, Orascom Construction Limited issued new ordinary shares (the New Shares) representing 11% of the Company’s total share capital (the Egyptian Offer).
OCI N.V. remains listed on the Euronext Amsterdam as a global producer of nitrogen fertilizers, methanol and other natural gas based chemical products.