Alpha Dhabi’s company lists on Abu Dhabi Securities Exchange second market
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Alpha Dhabi’s company lists on Abu Dhabi Securities Exchange second market

Alpha Dhabi’s company lists on Abu Dhabi Securities Exchange second market

Response Plus Medical Holding specialises in medical emergency transfers from remote work sites with over 260 medical facilities

Response Plus Medical Holding (RPM), a subsidiary of Alpha Dhabi Holding made its market debut on September 14 on the Abu Dhabi Securities Exchange (ADX) Second Market.

Trading under the ticker RPM, Response Plus Medical Holding is one of the UAE’s largest providers of on-site healthcare management, with over 1,600 employees and paid-in capital of Dhs200m. Established in 2010, the company specialises in medical emergency transfers from remote work sites with over 260 medical facilities, as well as a fleet of over 160 ambulances.

RPM, which provides medical support for the oil and gas sector, chemical industries, construction sites, has operations in the UAE, Saudi Arabia, and Oman, and is implementing a strategy to expand further in the GCC, Africa and India over the next five years, a statement said.

Hamad Al Ameri, managing director and CEO of AlphaDhabi said: “We are excited to be bringing RPM, on to the ADX Second Market. RPM has grown rapidly into a leader in healthcare management and medical emergency transfers, providing innovative and accessible solutions to corporate clients. The company is executing a well-defined five-year strategy to expand into new markets, and to integrate and launch new services. By taking RPM public, we can share this exciting growth prospect with a broader base of investors.”

Alpha Dhabi Holding, which listed on the main board of ADX in June 2021, is a real estate and construction company in the UAE.

“I am pleased to welcome RPM as the latest listing on the Abu Dhabi Securities Exchange. ADX is becoming increasingly vibrant due to a strong pipeline of listings, and a broadening offering of products and services,” noted Saeed Hamad Al Dhaheri, chief executive officer of ADX.

ADX has been home to several listing and prospects in recent months in an attempt to incentivise investment and boost liquidity in the market.

Earlier this month, Abu Dhabi-based ADQ announced its intent to proceed with listing shares of the Abu Dhabi Ports Company on the bourse, following ADNOC Drilling Company’s announcement of its intent to proceed with an IPO.

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.

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