ADQ announces intent to list Abu Dhabi Ports on ADX

ADQ intends to proceed with listing shares of the Abu Dhabi Ports Company on the Abu Dhabi Securities Exchange (ADX), it announced on September 7.

The proposed listing is currently expected to occur before the end of 2021, subject to market conditions and obtaining relevant regulatory approvals, a statement said.

Abu Dhabi Ports is a trade enabler, encompassing diverse assets including ports, industrial cities and free zones, maritime, logistics and digital. For the year ended December 31, 2020, Abu Dhabi Ports reported revenue of Dhs3.4bn, a growth of Dhs0.7bn compared to 2019. Its EBITDA grew by 37 per cent to reach Dhs1.5bn in 2020 and EBITDA margins improved from 40.7 per cent in 2019 to 45.2 per cent in 2020. Abu Dhabi Ports’ asset base expanded by Dhs3.1bn, reaching a total of Dhs24.8bn as of December 31, 2020.

We intend to proceed with listing shares of @AbuDhabiPorts on @ADX_AE subject to obtaining relevant regulatory approvals.

This listing will give investors access to a maritime & logistics leader with solid growth potential. Read more: https://t.co/VjG139sDK1#CreatingValue pic.twitter.com/5GlhsAnhSa

— ADQ (@Adq_Official) September 7, 2021

Mohamed Hassan Alsuwaidi, chief executive officer, ADQ, commented: “As part of ADQ’s portfolio since its inception in 2018, Abu Dhabi Ports has successfully consolidated and integrated ports, industrial cities and free zones, logistics, maritime and digital entities while increasing volumes and revenues. With a strong leadership team in place, we are confident Abu Dhabi Ports is well-positioned to continue progressing on its strategy towards becoming a global trade and commercial hub. With 14 listings already in 2021, ADX is an ideal choice to give investors access to a high quality, high growth potential maritime and logistics leader due to its growing liquidity and resiliency.”

“We are committed to driving innovation and development across the global maritime and logistics industries to support the growth of Abu Dhabi and the UAE. Over the past year, we have delivered on our long-term strategy focused on driving global trade through an integrated portfolio of world-class ports, industrial zones and logistics supply chains,” adds Capt. Mohamed Juma Al Shamisi, group CEO, Abu Dhabi Ports.

The announcement is the second proposed listing for ADX this week as ADNOC Drilling Company recently announced its intent to proceed with an IPO and list shares for trading on the bourse.

Read: ADNOC Drilling Company announces intent to list 7.5% of shares on ADX

Last month, ADX also said 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 will be reduced to 0.025 per cent from 0.05 per cent starting from September 1.