13 private firms complete key UAE listing; boost capital to $2.3bn
ABU DHABI, June 17, 2023
The Securities and Commodities Authority (SCA) announced that the number of private joint-stock companies listed in the capital markets in the country totalled 13 companies, with a total capital of AED8.3 billion ($2.3 billion), by the end of last year.
The SCA added, in a recent report, that the companies are divided into 12 companies listed on the Abu Dhabi Securities Exchange (ADX) and one company listed on the Dubai Financial Market (DFM).
According to the report, the companies listed on the ADX included:
*Manazel (formerly Wahid Properties) with the capital value of AED2.6 billion
*Anan Investment Holding (formerly Wahat Al-Zawiya) with the capital value of AED2.31 billion
*Al-Seer Equipment and Marine Supplies (formerly Al-Seer Marine) with the capital value of AED1 billion
*Q Holding (formerly Al-Qudra Holding) with the capital value of AED808.9 million
*National Investor (formerly National Holding) with the capital value of AED310 million
*Foodco National Foodstuff (formerly Nakhil Foodstuff) with the capital value of AED280 million
*ASG Stallions Emirates (formerly Al-Shabab Sports Club) with the capital value of AED250 million
*Response Plus Holding (formerly Al-Respos Group) with the capital value of AED200 million
*Palms Sports (formerly Al-Nasr Sports Club) with the capital value of AED150 million
*Food Holding (formerly Costume Retail) with the capital value of AED100 million
*Sawaeed Holding with the capital value of AED 51.1 million and
Easy Lease Motorcycle Rentals with the capital value of 30 million
The lone company listed on DFM was BHM Capital for Financial Services, with a capital of AED173.4 million.
According to SCA, the inclusion of private joint-stock companies in the local markets helps companies access a large capital base, in addition to opening the way to enhance brand value in an effective manner.
This forms a pivotal part of the integrated vital system established by the state to embrace and support companies of all sizes, including startups down to the big companies. It provides one of the best and most convenient business environments in the world, it stated.
Last year, the ADX launched the Nomu Market, a new brand for the "Second Market" platform, to provide an advanced trading platform that connects investors with private companies, and complements the growing dynamic system of emerging companies and promising growth companies in Abu Dhabi.
This market provides private companies with access to a broader investor base, it said.
Companies intending to be listed on the ADX Nomu Market have all the support they need throughout the listing process.
The market also provides support to companies at the post-listing stage, including access to annual general assembly management services, dividend distribution, and support in corporate communication, stated SCA in its statement.
The qualifications for listing on the Nomu market include changing the legal form of the company to a private joint stock company, provided that it has been established for at least two years, in addition to submitting audited financial statements and listing no less than 5 percent of its capital, it added.-TradeArabia News Service
