Abu Dhabi ports collect USD1b via stocks sale

2022-02-07 06:35:27

(MENAFN) Abu Dhabi Ports Group, the premier facilitator of industrial metropolises and free zones in the country, collected Dh4 billion (USD1bn) from its stock sale to aid the firm enlarge its operations internationally.

According to AD Ports statement published on Monday, the exchanging of sales is predicted to start on Tuesday under the stock market symbol “ADPORTS”

“The cash proceeds from this primary issuance will be used to fund the company’s organic and inorganic growth plans, allowing the company to accelerate its local and international expansion plans.”

Abu Dhabi’s holding firm ADQ stays a stockholder with the majority of the stocks totaling at 75.44 per cent share in the listed unit.

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