AD Ports Group lists shares on Abu Dhabi Securities Exchange

Abu Dhabi-based AD Ports Group has listed its shares on the Abu Dhabi Securities Exchange (ADX) main market and will commence trading on Tuesday, February 8.

The integrated ports, logistics and industrial zone operator raised capital worth Dhs4bn through a primary issuance, which will be used to fund the company’s growth and expansion plans.

Abu Dhabi-based investment and holding company ADQ is a majority shareholder with a 75.44 per cent stake in the listed entity, Abu Dhabi Government Media Office reported.

.@ADPortsGroup has completed the listing of its shares on @ADX_AE and will commence trading on the main exchange under the ticker ADPORTS from Tuesday, 8 February 2022. pic.twitter.com/HOH5RsHI8M

— مكتب أبوظبي الإعلامي (@admediaoffice) February 7, 2022

In September of last year, ADQ had announced its intent to proceed with the listing of the Abu Dhabi Ports Group.

Read: ADQ announces intent to list Abu Dhabi Ports on ADX

ADQ transferred ownership of stakes in two listed companies to AD Ports Group prior to the listing, which consists of a 22.32 per cent stake in logistics firm Aramex and a 10 per cent stake in UAE-based contractor National Marine Dredging Company.

.@ADPortsGroup, part of ADQ, now owns a 22.32 per cent stake in @Aramex and 10 per cent stake in @NMDC_UAE. By strengthening its integrated business model, AD Ports Group will leverage both companies to pursue regional and international growth.

Read more: https://t.co/iOOcGxWlGP pic.twitter.com/LgbVBABF9i

— مكتب أبوظبي الإعلامي (@admediaoffice) February 2, 2022

AD Ports Group recorded Dhs2.791bn ($760m) in revenue for the first nine months ending September 30, 2021, marking a 22 per cent year-on-year growth. EBITDA rose 7 per cent year-on-year to Dhs1.161bn ($316m), up from Dhs1.081bn ($295m) recorded in an year-earlier period.

“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,” said Capt. Mohamed Juma Al Shamisi, managing director and group CEO, AD Ports Group. “Our commitment will ensure sustained success that will benefit our shareholders and other key stakeholders in the year ahead and for the long-term.”

ADX has recorded a series of listings in recent months, in an attempt to boost liquidity. In October of last year, ADNOC Drilling Company listed shares on the Abu Dhabi bourse.

Read more: ADNOC Drilling lists IPO on Abu Dhabi Securities Exchange

Several subsidiaries of the International Holding Company have also listed on the ADX, which include Palm Sports, Easylease, Zee Stores, Emirates Stallion Group on the second market and AlphaDhabi on the primary market.

Read: Al Seer Marine becomes IHC’s 6th subsidiary to list on ADX

Read: Subsidiary of Abu Dhabi’s International Holding Company to list on ADX

Read more: Emirates Stallion Group lists on ADX Second Market in the UAE

ADX announced last year that it would cut in half its trading commission and extend trading hours in an attempt to boost liquidity in the market.

Read: Abu Dhabi Exchange cuts trading fees, extends trading hours

Trading fees was also reduced to 0.025 per cent from 0.05 per cent starting September 1, 2021.