Abu Dhabi Ports (AD Ports) has listed its shares on the Abu Dhabi Securities Exchange (ADX) main market, trading under the ticker symbol ‘ADPORTS’.
The port operator also raised new capital of $1.1bn (AED4bn) through a primary issuance.
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These funds will be used to support the firm’s organic and inorganic growth strategies in local as well as international markets.
Abu Dhabi-based investment and holding firm ADQ has a majority holding of 75.44% in the listed entity.
Prior to the listing, AD Ports Group received ownership of stakes in two listed companies from ADQ.
These include a 22.32% interest in logistics firm Aramex PJSC as well as a stake of 10% in United Arab Emirates (UAE)-based contractor National Marine Dredging Company PJSC (NDMC).
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By GlobalDataAs a diversified global trade and logistics platform, these entities are expected to support the port’s growth strategy.
AD Ports Group managing director and group CEO Capt Mohamed Juma Al Shamisi said: “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.
“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.”
Last December, AD Ports reached four strategic agreements as well as a head of terms (HoT) agreement with the Aqaba Development Corporation for support in maritime developments.
