Abu Dhabi Securities Exchange Announces Secondary Listing Of ADQ's $2.5 Billion Bond
(MENAFN- Khaleej Times)
Abu Dhabi Securities Exchange (ADX) on Thursday announced the secondary listing of the Abu Dhabi Development Holding Company's (ADQ) $2.5 billion bond, first listed on the London stock exchange (LSE) in April 2024.
The dual tranche bond, comprising a five-year $1.25 billion tranche and a ten-year $1.25 billion tranche, underscores ADX's position as a diversified capital market and a dynamic platform for global investors.
The bond issuance had been met with significant local and international investor demand and was oversubscribed 4.4 times.
“ADX will continue to provide an agile and dynamic investment platform and market infrastructure to enable companies like ADQ to achieve their objectives and further Abu Dhabi's economic diversification agenda,” said Abdulla Salem Alnuaimi, Group CEO of ADX.
As an asset owner mandated to contribute to the sustainable development of Abu Dhabi's economy, ADQ supports its portfolio companies in laying the foundations for future listings to optimize the funding structure and uphold best-in-class corporate governance. As of July 2024, ADQ's portfolio encompassed eight companies listed on ADX, namely Taqa, AD Ports Group, Agthia Group, Emirates Steel Arkan, PureHealth, E7 Group, Modon Holding, and Abu Dhabi Aviation.
With this listing, the number of debt instruments listed on ADX reaches 60.
MENAFN04072024000049011007ID1108408562
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.