Dubai: In the latest addition to the Initial Public Offering (IPO) surge in the country, Aqua Bridge Group announced its intention to list its shares on the Dubai Nasdaq.
The group is the only UAE-based company in the acquaculture industry, with operations across six countries.
The company posted year-on-year revenue growth of 143 per cent, and an anticipated surge of 425 per cent in the current fiscal year. These numbers are tied to the portfolio of 16 ongoing projects spanning various countries.
A press release from the company said, "This strategic move towards an IPO is poised to infuse the company with the capital required to catalyse its growth and solidify its position as an industry leader."
The statement quoted CEO of Aqua Bridge Group, Mohammad Tabish, "We are at a juncture where going public is not only the logical progression for our organization but also a pivotal step towards nurturing the phenomenal growth we've achieved thus far.
"The Dubai NASDAQ presents an exceptional platform to further elevate our presence in the global market."
The Group's chairman Sheikh Ahmed bin Mana bin Khalifa Al Maktoum, the release added, has guided the firm in reinforcing its commitment to enhancing food security in collaboration with local competent authorities in the respective countries of operation.