UAE’s leading integrated ports, logistics, and industrial zone operator, Abu Dhabi Ports (AD Ports) Group has listed its shares on the Abu Dhabi Securities Exchange (ADX) main market.
According to the statement, trading is set to begin on Tuesday, February 8 under the ticker symbol “ADPORTS”. Ahead of the listing, AD Ports Group raised new capital through a primary issuance.
The cash proceeds from this main offering of $1 billion (AED4 billion) will be used to fuel the company’s organic and inorganic growth objectives, allowing it to accelerate its local and worldwide expansion goals.
ADQ, an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises, remains a majority shareholder with a 75.44 percent stake in the listed entity, as per the statement.
Furthermore, ADQ transferred ownership of stakes in two listed companies to AD Ports Group prior to the listing. “This comprised a 22.32 percent stake in logistics firm Aramex PJSC (Aramex) and a 10 percent stake in UAE-based contractor National Marine Dredging Company PJSC (NDMC), which specializes in engineering, procurement, construction, and marine dredging. Both companies create significant synergies to AD Ports Group’s existing business and will accelerate its growth strategy as a diversified global trade and logistics platform,” according to the reports.
Falah Mohammad Al Ahbabi Chairman – Abu Dhabi Ports
“Driven by our leaders’ vision to diversify our economy, we have built a market-leading business that embraces a culture of innovation and supports its growth through strategic partnerships with leading organizations around the world. We welcome our new shareholders, and we are confident that we are well-positioned to take the next step on our journey of sustained growth and global expansion.”
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group said that, “In 2021, we signed major agreements with international organizations 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.”
“We will continue to encourage growth, innovation, and the highest level of customer service. Our commitment will ensure sustained success that will benefit our shareholders and other key stakeholders in the year ahead and for the long-term,” Capt. Al Shamisi added.
