Abu Dhabi Securities Exchange announces listing of Sawaeed Holding

Abu-Dhabi based investment group Sawaeed Holding has listed its shares on the Abu Dhabi Securities Exchange (ADX) second market and begins trading today, October 25, ADX has announced.

The company’s nominal value of share capital is Dhs51.1m, with each share having a nominal value of Dhs1. This is the fourth listing on ADX in 2020.

Established in 2006, Sawaeed has grown to employ nearly 28,000 people. Since its incorporation, it has diversified into investments, a large-scale industrial training centre, manpower accommodation services, facilities management and catering. It became a private joint stock company in 2018.

“The listing is wholly in line with the exchange’s strategy of offering investors a broader range of opportunities across different and sectors,” noted Mohamed Ali Al Shorafa Al Hammadi, chairman of ADX.

“Sawaeed’s listing on ADX’s second market confirms the exchange’s position as a preferred listing destination, and is testament to the opportunities it offers to companies looking to raise capital and enable their shares to be traded more actively.”

Mubarak Matar Al Humairy, chairman of Sawaeed Holding, stated: “The listing of Sawaeed Holding on ADX is in line with its aspirations for sustainable growth, investments in diversified sectors, commitment to transparency and achieving long-term shareholder value.”

With the listing of Sawaeed Holding, there are now six companies listed on the second market, and 83 securities listed on the Abu Dhabi Securities Exchange.

The ADX second market is a fundamental component of ADX’s infrastructure that enables private companies to list. ADX is also the first exchange in the region to have a dedicated platform for the trading of shares of private joint stock companies. Market capitalisation of companies listed on the second market amounted to around Dhs10.2bn at the end of Q3 2020.

From the beginning of the year and as of September 30, 2020, the second market has witnessed a trading turnover of almost 14 times, with 950 million shares traded.