Dubai: Abu Dhabi Securities Exchange (ADX) announced that Zee Stores P.J.S.C, has listed its shares on ADX’s Second Market under the ticker symbol ZS, and trading begins on the shares today.
The company’s nominal value of share capital is Dh100 million, with each share having a nominal value of Dh1. This is the third listing to take place on ADX’s Second Market in 2020.
Zee Stores was founded in 2002 and currently operates as a retail subsidiary under the International Holding Company (IHC) Abu Dhabi. The company specialises in trading food and non-food products, including importing, re-packaging, wrapping, storing, and distributing dry, canned, chilled, frozen, processed and fresh food products; household items, stationery, disposables and cosmetics; and chemicals and other allied on- and off-shore oil and gas field services.
Zee Stores has assets of Dh189 million as at the end of September 2020 and its annual turnover is around Dh300 million.
“We always strive to encourage more companies to list their shares on the Second Market. Listing on the exchange provides the opportunity for companies to further expand their business. It also offers investors more opportunities to diversify their investments, which will enhance stability on the market and attract more institutional investments,” said Saeed Hamad Al Dhaheri, Chief Executive of Abu Dhabi Securities Exchange.
ADX listing of Zee Stores on the Second Market brings the number of companies listed on the Exchange to 72 companies and the number of listed securities to 89.
“We have built a strong reputation that made us the partner of choice for many of the world’s leading brands. We believe that this listing is a strong step forward for our company and stakeholders to experience further growth and success,” Falal Ameen, CEO of Zee Stores