Abu Dhabi Securities Exchange (ADX). ADX on Sunday announced the listing of EasyLease on ADX Second Market. Image Credit: Pankaj Sharma/Gulf News

Abu Dhabi: Abu Dhabi Securities Exchange (ADX) announced that EasyLease has listed its shares on ADX Second Market, under the ticker symbol EASYLEASE, and trading begins on the shares Sunday.

The company’s nominal value of share capital is Dh30 million, with 30 million shares and each share having a nominal value of Dh1. This listing brings the number of securities listed on ADX to 90.

“We welcome EasyLease on the Second Market. It is the fourth company to be listed on the exchange during the current year. Listing provides private companies with efficient access to capital markets to raise money through equity and bond offering, thus contributing to the enrichment of the financial sector in the country," said Saeed Hamad Al Dhaheri, Chief Executive of ADX.

EasyLease, a subsidiary of International Holding Company (IHC), provides turnkey, ready to go leasing solutions for customers’ motorcycle fleet needs. The company was established in 2011 and had assets of Dh74.1 million as at the end of September 2020.

“We have built a leading motorcycle business in Abu Dhabi, providing individuals and businesses from the capital and around the UAE with the right platform, solutions and customer support to meet their growing fleet needs. We are pleased to have listed our shares on the ADX Second Market. This step will support the strong growth of EasyLease in the long-term,” Ahmad Mohammad Al Sadah, CEO of EasyLease.

The market value of shares owned by investors on ADX increased by approximately 41.5 per cent from Dh528 billion at December 15, 2019 to Dh747 billion at Decembr 15, 2020.