AD Ports Group has announced the listing of its shares on the main market of the Abu Dhabi Securities Exchange (ADX).
Trading is set to begin today (7 February), under the ticker symbol ‘ADPORTS’.
Ahead of the listing, AD Ports Group raised AED4B (approximately US$1.089B) in new capital through a primary issuance, which it said will be used to fund the company’s organic and inorganic growth plans, allowing the company to accelerate its local and international expansion plans.
The listing does not change the majority ownership of the company. “Accordingly, ADQ, an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises, remains a majority shareholder with a 75.44% stake in the listed entity,” said AD Ports.
“Furthermore, ADQ transferred ownership of stakes in two listed companies to AD Ports Group prior to the listing. This comprised a 22.32 percent stake in logistics firm Aramex PJSC and a 10% stake in UAE-based contractor National Marine Dredging Company PJSC, which specialises in engineering, procurement, construction and marine dredging.
“Both companies create significant synergies to AD Ports Group’s existing business and will accelerate its growth strategy as a diversified global trade and logistics platform.”
H.E. Falah Mohammed Al Ahbabi, chairman of AD Ports Group, said: “Driven by our leaders’ vision to diversify our economy, we have built a market-leading business that embraces a culture of innovation and supports its growth through strategic partnerships with leading organisations around the world.
“We welcome our new shareholders, and we are confident that we are well-positioned to take the next step on our journey of sustained growth and global expansion.”
Capt. Mohamed Juma Al Shamisi, managing director and group CEO of AD Ports Group, added: “In 2021, we signed major agreements with international organisations and we delivered strong results across every part of our business despite significant stress on global supply chains caused by the impact of COVID-19.
“We will continue to encourage growth, innovation and the highest level of customer service. Our commitment will ensure sustained success that will benefit our shareholders and other key stakeholders in the year ahead and for the long-term.”