Abu Dhabi Ports
Abu Dhabi Ports will join ADNOC Drilling on the ADX listings. Another giant public offering is waiting in the wings, that of Emirates Global Aluminum. Image Credit: Supplied

Dubai: It's another day and another mega IPO is all set to happen in Abu Dhabi. Abu Dhabi Ports - the operator of ports, free zones and maritime operations - is all set to offer its shares on ADX. This was confirmed by the parent company ADQ, one of the region’s largest holding companies. 

The listing on Abu Dhabi Securities Exchange (ADX) is expected to comprise a sale of a portion of existing shares to investors in the UAE. The announcement comes a day after ADNOC Group said it will float shares of its subsidiary ADNOC Drilling on ADX.

Stock - Falah Mohammed Al Ahbabi, Chairman of Abu Dhabi Ports
"Abu Dhabi enjoys the stable economic environment that has driven our ongoing growth, encouraged us to embrace innovation and ensured we have been able to build world class partnerships with international champions," said Falah Mohammed Al Ahbabi, Chairman of Abu Dhabi Ports.

The proposed AD Ports listing is expected to occur before the end of this year itself, "subject to market conditions and obtaining relevant regulatory approvals".

Abu Dhabi Ports’ portfolio comprises 11 ports and terminals and more than 550 square kilometres of industrial zones at Khalifa Industrial Zone Abu Dhabi (KIZAD) and Higher Corporation for Specialised Economic Zones.

Dh 24.8 b

AD Ports' asset base as of end 2020

For 2020, Abu Dhabi Ports reported revenues of Dh3.4 billion, a gain of dh700 million compared to 2019 and despite the COVID-19 impact. Growth was delivered across all key revenue lines, and backed by "strong operational performance". The EBITDA (earnings before interest, tax, depreciation and amortisation) margins improved from 40.7 per cent in 2019 to 45.2 per cent.

Falah Mohammed Al Ahbabi, Chairman of Abu Dhabi Ports, said: “Today’s announcement marks another important step in Abu Dhabi Ports’ ongoing journey as we consolidate our leading role in the maritime and logistics sectors.”

Over the past year, we have delivered on our long-term strategy focused on driving global trade through an integrated portfolio of world-class ports, industrial zones and logistics supply chains

- Capt. Mohamed Juma Al Shamisi, Group CEO, Abu Dhabi Ports