{"id":29088,"date":"2022-02-07T20:34:13","date_gmt":"2022-02-07T17:34:13","guid":{"rendered":"https:\/\/www.al-sindbad.net\/ad-ports-raises-1-1bn-ahead-of-abu-dhabi-trading-debut\/29088\/"},"modified":"2022-02-07T20:34:13","modified_gmt":"2022-02-07T17:34:13","slug":"ad-ports-raises-1-1bn-ahead-of-abu-dhabi-trading-debut","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/ad-ports-raises-1-1bn-ahead-of-abu-dhabi-trading-debut\/29088\/","title":{"rendered":"AD Ports raises $1.1bn ahead of Abu Dhabi trading debut"},"content":{"rendered":"<p><\/p>\n<div class=\"entry-content entry clearfix\">\n<div class=\"mailmunch-forms-before-post\" style=\"display: none !important;\"><\/div>\n<p>AD Ports Group has raised AED4bn ($1.1bn) in proceeds from its primary issuance ahead of the listing of its shares on the main market of the Abu Dhabi Securities Exchange (ADX) on Tuesday, February 8.<\/p>\n<p>The Abu Dhabi-based ports and logistics giant, owned by sovereign wealth fund ADQ, said the cash proceeds will be used to fund its organic and inorganic growth plans, allowing the company to accelerate its local and international expansion plans. ADQ will remain a majority shareholder with a 75.44% stake in the listed entity.<\/p>\n<p>Prior to the listing, ADQ transferred ownership\u00a0in two listed companies to AD Ports. This comprised a 22.32% stake in logistics firm Aramex and a 10% stake in UAE-based contractor National Marine Dredging Company (NDMC).<\/p>\n<div class=\"mailmunch-forms-in-post-middle\" style=\"display: none !important;\"><\/div>\n<p>Established in 2006, AD Ports owns, manages and operates 10 ports and terminals in the UAE, a terminal in Guinea and more than 550 sq km of industrial zones within Khalifa Industrial Zone Abu Dhabi (KIZAD) and ZonesCorp.<\/p>\n<p>The listing is the latest among a string of initial public offerings on the ADX, which included ADNOC\u2019s IPO of its <span style=\"text-decoration: underline;\"><a href=\"https:\/\/splash247.com\/adnoc-to-list-drilling-business-in-abu-dhabi-ipo\/\" target=\"_blank\" rel=\"noreferrer noopener\">drilling<\/a><\/span> unit, which raised more than $1.1bn and close to $800m raised when ADNOC\u2019s chemicals business OCI launched the IPO of its fertiliser venture Fertiglobe.<\/p>\n<div class=\"mailmunch-forms-after-post\" style=\"display: none !important;\"><\/div>\n<div class=\"stream-item stream-item-below-post-content\">\n<div id=\"div-gpt-ad-1_95_0_1_2\"> <script>googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); });<\/script> <\/div>\n<\/div>\n<div class=\"post-bottom-meta post-bottom-tags post-tags-modern\">\n<div class=\"post-bottom-meta-title\">\n<span class=\"tie-icon-tags\" aria-hidden=\"true\"><\/span> Tags<\/div>\n<p><span class=\"tagcloud\"><a href=\"https:\/\/splash247.com\/tag\/united-arab-emirates\/\" rel=\"tag\">United Arab Emirates<\/a><\/span>\n<\/div>\n<\/div>\n<p>splash247<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AD Ports Group has raised AED4bn ($1.1bn) in proceeds from its primary issuance ahead of the listing of its shares on the main market of the Abu Dhabi Securities Exchange (ADX) on Tuesday, February 8. The Abu Dhabi-based ports and logistics giant, owned by sovereign wealth fund ADQ, said the cash proceeds will be used &hellip;<\/p>\n","protected":false},"author":1,"featured_media":29089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[],"class_list":["post-29088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-port-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/29088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=29088"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/29088\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/29089"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=29088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=29088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=29088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}