AD Ports Group today commemorated the listing of its shares on the primary market of the Abu Dhabi Securities Exchange (ADX) with an official bell ringing ceremony. 

 

The shares began trading on ADX under the ticker symbol “ADPORTS”.

 

The ringing of the bell was conducted by Falah Mohammed Al Ahbabi, Chairman of AD Ports Group;  Hisham Khalid Tawfiq Abdulkhaliq Malak, Chairman, ADX; Capt Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group; and Saeed Al Dhaheri, Managing Director and Chief Executive Officer of ADX.

 

Capt Al Shamisi said: “We are pleased to see that our continued efforts to drive the growth of trade and industry across the UAE and beyond have achieved another key milestone with the official start of trading of AD Ports Group’s shares on the Abu Dhabi Securities Exchange.

 

“Rising to meet the challenges faced by global markets in recent years, AD Ports Group has emerged as a resilient entity that not only continues to expand in terms of size and capabilities, but which has also influenced transformation and the adoption of innovation.

 

“And now, as a publicly listed company, we welcome new shareholders in joining us on our remarkable journey to develop the maritime and logistics industries across the region and globally.”

 

Al Dhaheri said: “We are pleased to welcome Abu Dhabi Ports Group on the Abu Dhabi Securities Exchange, the second listing of 2022. The listing of AD Ports on ADX follows a robust pipeline of listings and new products that we introduced in 2021. As part of our ‘ADX One’ we will continue to encourage the listings pipeline to enhance our dynamic capital market.”

 

Ahead of the listing, AD Ports Group raised AED4 billion through a primary issuance. The proceeds will be used to fund organic and inorganic growth plans, allowing AD Ports Group to accelerate its local and international expansion plans. Accordingly, ADQ, an Abu Dhabi-based investment and holding company with a broad portfolio of enterprises, remains a majority shareholder with 75.44 percent ownership in the listed entity.  - TradeArabia News Service