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 AD Ports’ Share Price Jump 17% As It Commence Trading on Abu Dhabi Stock Exchange

AD Ports’ Share Price Jump 17% As It Commence Trading on Abu Dhabi Stock Exchange

Ahead of the listing, AD Ports Group raised $1.09 billion as new capital through a primary issuance. The cash proceeds from this primary issuance will be used to fund the company’s organic and inorganic growth plans, allowing the company to accelerate its local and international expansion plans. 

Accordingly, ADQ, an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises, remains a majority shareholder with a 75.44% stake in the listed entity.

Furthermore, ADQ transferred ownership of stakes in two listed companies to AD Ports Group prior to the listing. This comprised a 22.32% stake in logistics firm Aramex PJSC and a 10% stake in the UAE-based contractor National Marine Dredging Company PJSC, which is specialised 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.

Capt Mohamed Juma Al Shamsi, Managing Director and CEO of Abu Dhabi Ports Group, said: “During 2021, we signed several agreements with leading global institutions, and achieved strong results in all our business sectors despite COVID-19 pandemic impact on the global supply chain.

“We will continue our efforts to achieve more growth, employ innovation and provide the best levels of service to our customers. This commitment ensures that we continue to succeed and prosper for the benefit of our shareholders and stakeholders during the coming year as well as for the long term,” he added.

Falah Mohammed Al Ahbabi, Chairman of Abu Dhabi Ports Group, said: “Thanks to the directives of our wise leadership to diversify the economy, we have succeeded in building a leading institution in the sector that adopts a culture of innovation and supports its business through strategic partnerships with leading international companies.” 

He added: “We are pleased to welcome the new shareholders, and we are confident that this step will take us to a unique position that will allow us to continue our global expansion journey.”

Global Business Magazine

Global Business Magazine

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