"Holding" intends to list "Abu Dhabi Ports" on the Abu Dhabi Stock Exchange
The Holding Company (ADQ), one of the largest holding companies in the region and which owns a wide portfolio of major companies operating in key sectors within the diversified economy of the Emirate of Abu Dhabi, announced today its intention to list the shares of Abu Dhabi Ports.
Abu Dhabi Ports is an international trading company headquartered in the Emirate of Abu Dhabi, with diversified assets that include ports, industrial cities, free and maritime zones, logistics and digital services.
The listing on the Abu Dhabi Securities Exchange is expected to include selling part of the company's existing shares to investors in the United Arab Emirates.
Falah Mohammed Al Ahbabi, Chairman of the Board of Directors of Abu Dhabi Ports, said: "Today's announcement is another important step in Abu Dhabi Ports' ongoing journey as we work to consolidate our leading role in the maritime transport and logistics sector. Thanks to the wisdom of our wise leadership, the Emirate of Abu Dhabi enjoys an environmentally friendly environment. A stable economy that contributed to our continuous growth and encouraged us to embrace innovation, enabling us to build world-class partnerships with leading international institutions.”
Mohamed Hassan Al Suwaidi, CEO of ADQ, said: “Abu Dhabi Ports has been one of the companies in the ADQ portfolio since its inception in 2018, and it has succeeded in unifying the businesses of ports, industrial cities, free zones, logistics companies, marine and digital, and achieved Increase in volume and revenue. With a strong leadership team, we are confident that Abu Dhabi Ports will continue to advance to becoming a global trading hub. With the listing of 14 companies in 2021, the Abu Dhabi Securities Exchange is an ideal option that gives investors access to a leading shipping and logistics company that is recording high growth rates thanks to its liquidity and remarkable flexibility.
In the year ending December 31, 2020, Abu Dhabi Ports recorded revenues of 3.4 billion dirhams, an increase of 0.7 billion dirhams (approximately 24 percent) compared to 2019, despite the repercussions of Covid-19.
It achieved growth in major revenue streams supported by impressive operational performance.
Abu Dhabi Ports' EBITDA grew by 37% to reach AED 1.5 billion in 2020, and its EBITDA margins increased from 40.7% in 2019 to 45.2% in 2020. In addition, it increased The value of "Abu Dhabi Ports" projects is 3.1 billion dirhams, reaching 24.8 billion dirhams, as of December 31, 2020.
The proposed listing is currently expected to take place before the end of 2021 depending on the prevailing market conditions and the possibility of obtaining relevant regulatory approvals.
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