ADQ intends to list Abu Dhabi Ports on Abu Dhabi Securities Exchange


ABU DHABI, ADQ, a holding company with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, announced today its intention to proceed with listing shares of Abu Dhabi Ports Company PJSC, an Abu Dhabi based global trade enabler encompassing diverse assets including ports, industrial cities and free zones, maritime, logistics and digital.

The listing on the Abu Dhabi Securities Exchange (ADX) is expected to comprise a sale of a portion of existing shares to investors in the UAE.

Falah Mohammed Al Ahbabi, Chairman of Abu Dhabi Ports, said, "Today’s announcement marks another important step in Abu Dhabi Ports’ ongoing journey as we consolidate our leading role in the maritime and logistics sectors. Thanks to our leadership’s wisdom and foresight, Abu Dhabi enjoys the stable economic environment that has driven our ongoing growth, encouraged us to embrace innovation and ensured we have been able to build world-class partnerships with international champions."

Mohamed Hassan Alsuwaidi, CEO of ADQ, commented, "With a strong leadership team in place, we are confident Abu Dhabi Ports is well-positioned to continue progressing on its strategy towards becoming a global trade and commercial hub. With 14 listings already in 2021, ADX is an ideal choice to give investors access to a high quality, high growth potential maritime and logistics leader due to its growing liquidity and resiliency."

Capt. Mohamed Juma Al Shamisi, Group CEO, Abu Dhabi Ports, said, "We are committed to driving innovation and development across the global maritime and logistics industries to support the growth of Abu Dhabi and the UAE. Over the past year, we have delivered on our long-term strategy focused on driving global trade through an integrated portfolio of world-class ports, industrial zones and logistics supply chains."

For the year ended 31st December 2020, Abu Dhabi Ports reported revenues of AED3.4 billion, a growth of AED0.7 billion (c. 24 percent) compared to 2019 despite the COVID-19 impact. Growth was delivered across key revenue streams backed by strong operational performance.

EBITDA of Abu Dhabi Ports grew by 37 percent to reach AED1.5 billion in 2020 and EBITDA margins improved from 40.7 percent in 2019 to 45.2 percent in 2020. Abu Dhabi Ports’ asset base expanded by AED3.1 billion, reaching a total of AED 24.8 billion as of 31 December 2020.

The proposed listing is currently expected to occur before the end of 2021, subject to market conditions and obtaining relevant regulatory approvals.

Source: Emirates News Agency