UAE-based Alpha Dhabi Holding, a subsidiary of International Holding Company (IHC) and a major investment company, has completed a direct listing of its shares on the Abu Dhabi Securities Exchange (ADX)  with a AED10 billion ($2.27 billion) paid-in capital. 

 

Trading of its shares commenced today (June 27) under the ticker 'AlphaDhabi', said the statement from IHC.

 

Established in 2008, Alpha Dhabi Holding is also a leading real estate and construction company in the UAE. It recently embarked on building a diversified portfolio that manages, deploys, and organises 25 subsidiary entities within its five major verticals of industrials, healthcare, capital, construction, and hospitality.

 

It celebrated the listing with a bell ringing ceremony in the St Regis at Saadiyat, a hotel property that was acquired by Alpha Dhabi last month in the presence of the management team members of Alpha Dhabi Holding, IHC and ADX.

 

On the key success, Chairman Mohamed Thani Murshed Al Rumaithi said: "Today’s listing is a resounding vote of confidence for Alpha Dhabi in our journey of becoming a globally recognised investment holding company and to support our growth plans into our key verticals: industry, healthcare, capital, construction and hospitality."

 

"We are really pleased to have gained the support of key institutional and retail shareholders and we would like to thank all our key stakeholders for getting us market-ready," he added.

 

Welcoming the listing, ADX Chairman Mohamed Ali Al Shorafa Al Hammadi said: "This represents a strong vote of confidence in our exchange and reinforces the success of the ‘ADX One’ strategy in creating a dynamic equity and debt capital market ecosystem.'

 

"The ADX is a core pillar of the Emirate’s ambitions to further diversify its economy and foster a business environment that nurtures innovation and creates sustainable growth opportunities for investors," he added.

 

CEO Saeed Hamad Al Dhaheri said: "We are pleased to welcome Alpha Dhabi to the Abu Dhabi Securities Exchange, the 99th listing on our fast-growing exchange. The efforts we have made to incentivise listings and reduce transaction costs as part of our ADX One strategy have rapidly attracted new companies and enhanced market liquidity, as demonstrated by our robust performance this year."

 

"During the first five months, the exchange’s market capitalization reached a record of over AED950 billion and our benchmark equity index is currently the world’s fourth-best performing stock measure," he added.

 

IHC Managing Director and CEO Syed Basar Shueb said: "This is an incredibly special day for Alpha Dhabi. As a key shareholder, we would like to thank all the hardworking management team and employees who have made today possible."

 

"The company has such great potential and is entering now a hugely exciting expansion phase. This listing will help support this phase. We also like to thank the ADX with preparing the paths for Alpha Dhabi to list its shares," he added.

 

Alpha Dhabi Holding Managing Director Hamad Salem Mohammed Saeed Alameri said: "Today is the mark of a particularly important milestone for Alpha Dhabi and I am immensely proud of the team and their dedication to our mission of being one of the leading investment holding companies in the UAE."

 

"We have also seen significant revenue growth in the first quarter, and we recently executed major transactions as part of our growth strategy. There is a lot more to come and we look forward to the second half of 2021 and beyond with renewed optimism," he added.

 

Besides Chairman Alrumaithi and Vice Chairman Shueb, Alpha Dhabi’s board comprises Hamad Salem Mohammed Saeed Alameri (Managing Director); Sofia Abdellatif Lasky and Sultan Dahi Sultan Maasam Alhemeiri.-TradeArabia News Service