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 on 8 February, under the ticker symbol “ADPORTS”.
Ahead of the listing, AD Ports Group raised new capital through a primary issuance. The US$1.1 billion of cash proceeds from this primary issuance will be used to fund the company’s growth plans.
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.
Prior to the listing, ADQ transferred ownership of stakes in two listed companies to AD Ports Group. This comprised a 22.32% stake in logistics firm Aramex and a 10% stake in UAE-based contractor National Marine Dredging Company PJSC (NDMC).
Captain Mohamed Juma Al Shamisi, managing director and CEO of AD Ports Group, commented, “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. Our commitment will ensure sustained success that will benefit our shareholders and other key stakeholders in the year ahead and for the long-term.”
