Taqa To Delist From Abu Dhabi Bourse After ADPC Completes 100% Takeover

(MENAFN- Khaleej Times) Abu Dhabi National Energy Company (Taqa), one of the largest listed integrated utilities companies in Europe, the Middle East, and Africa, is set to delist from the Abu Dhabi Securities Exchange (ADX) after Abu Dhabi Power Corporation (ADPC) completed a mandatory acquisition of all remaining shares in the company, making it the sole shareholder with full ownership of Taqa's issued share capital.

In a disclosure filed with ADX, Taqa said its board of directors met on August 25, 2026, and resolved to proceed with the delisting following the conclusion of the squeeze-out process.

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The filing confirmed that Abu Dhabi Depository LLC verified on August 13, 2026, that ADPC had acquired all outstanding shares in Taqa, taking its stake to 100 per cent of the company's issued share capital.

Acting under the authority granted by Special Resolution 4, which shareholders approved at the general assembly meeting held on July 21, 2026, the board formally resolved to delist the company and all its shares from ADX. The delisting will take effect once Taqa receives all regulatory approvals required in the UAE.

Taqa reported revenues of Dh27.5 billion in the first six months of 2026, a 2.6 per cent decrease compared with Dh28.2 billion in the same period last year, primarily driven by lower pass-through revenues in Taqa Distribution, extension works at the Shuweihat 1 Power Plant, and lower oil and gas production following the planned decommissioning of UK North Sea assets.

While revenue declined, profitability increased, driven in particular by higher returns from Taqa Transmission and Taqa's Generation business. EBITDA rose by 7.7 per cent to Dh11 billion from Dh10.2 billion in the first half of 2025.

Net income attributable to its shareholders increased by 9.7 per cent to Dh4.1 billion, compared with Dh3.7 billion in the prior-year period. Capital expenditure rose to Dh7.2 billion, up 38 per cent year-on-year, reflecting accelerated investment across power, water, and transmission networks.

Free cash flow was Dh4.6 billion, compared with Dh7 billion in the prior year, largely driven by increased investment.

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