AD Ports Group begins trading on Abu Dhabi Securities Exchange following $1.1bn primary issuance - Trade Finance Global

AD Ports Group begins trading on Abu Dhabi Securities Exchange following $1.1bn primary issuance

By Patrick Tibke

Patrick Tibke is the Assistant Editor & Copywriter at Trade Finance Global (TFG). He has previously worked as a reporter and researcher at Nielsen, S&P Global, SportBusiness Group, Jakarta Globe, and more. He holds an MA in Journalism from the University of Sheffield, a BA in South East Asian Studies from SOAS at the University of London, and a Diploma in Journalism from the UK's National Council for the Training of Journalists (NCTJ).

Last updated on 02 Jul 2024

09 Feb 2022 2 min reading time

Key Themes:

AD Ports Group, one of the largest integrated ports, logistics, and industrial zone operators in the United Arab Emirates (UAE), has begun trading on the Abu Dhabi Securities Exchange (ADX).

Ahead of the listing, which went live yesterday, AD Ports Group raised AED 4 billion ($1.1 billion) of capital through a primary issuance.

In a press statement, AD Ports said the cash from its primary issuance will be used to fund the company’s organic and inorganic growth, including local and international expansion plans.

.@ADPortsGroup today rang the market opening bell to celebrate its listing on @ADX_AE. The shares began trading today under the ticker symbol “ADPORTS”. The bell-ringing ceremony was attended by pic.twitter.com/bSKDRV1NcG
— ADQ (@Adq_Official) February 8, 2022

Ownership breakdown

ADQ, an Abu Dhabi-based investment and holding company, will remain the majority (75%) shareholder of AD Ports Group despite the listing.

Moreover, ADQ has also transferred ownership stakes in two listed companies to AD Ports Group prior to the listing.

This includes a 22% stake in logistics firm Aramex PJSC, and a 10% stake in UAE-based contractor National Marine Dredging Company PJSC (NDMC).

NDMC specialises in engineering, procurement, construction, and marine dredging – a growing focus for AD Ports Group.

Growth prospects

H.E. Falah Mohammed Al Ahbabi, chairman of AD Ports Group, said that Aramex and NDMC will create significant synergies with AD Ports’ existing business, and will accelerate its growth strategy as a diversified global trade and logistics platform.

“Driven by our leaders’ vision to diversify our economy, we have built a market-leading business that embraces a culture of innovation, and supports its growth through strategic partnerships with leading organisations around the world,” said Al Ahbabi.

“We welcome our new shareholders, and we are confident that we are well-positioned to take the next step on our journey of sustained growth and global expansion.”

Capt. Mohamed Juma Al Shamisi, managing director and group CEO of AD Ports Group, added: “In 2021, we signed major agreements with international organisations, and we delivered strong results across every part of our business, despite significant stress on global supply chains caused by the impact of COVID-19.”

AD Ports Group is rated A+ by S&P and A+ by Fitch. It was established in 2006, and its portfolio now comprises 10 ports and terminals, and more than 550 square kilometres of free economic zones within the UAE, such as ZonesCorp and the Khalifa Industrial Zone Abu Dhabi (KIZAD).