AD Ports closes an impressive Dh4b stock float

Abu Dhabi: AD Ports Group is all set to list its shares on Abu Dhabi Securities Exchange (ADX), under the ticker symbol ‘ADPORTS’.

Ahead of the listing, AD Ports Group raised new capital through a primary issuance. The Dh4 billion from this primary issuance will be used to fund the company’s growth plans, and accelerate its local and international expansion plans. ADQ remains a majority shareholder with a 75.44 percent 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 per cent stake in logistics firm Aramex and a 10 per cent stake in UAE-based National Marine Dredging Company.

“Driven by our leaders’ vision to diversify our economy, we have built a market-leading business that embraces a culture of innovation and supports its growth through strategic partnerships with leading organisations around the world,” said Falah Mohammed Al Ahbabi, Chairman of AD Ports Group.

“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,” said Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group. “We will continue to encourage growth, innovation and the highest level of customer service.”