ABU DHABI, Abu Dhabi Securities Exchange (ADX) announced that EasyLease has listed its shares on ADX Second Market, under the ticker symbol EASYLEASE, and trading began on the shares on Sunday.

The company’s nominal value of share capital is AED30 million, with 30 million shares and each share having a nominal value of AED1. This listing brings the number of securities listed on ADX to 9.

EasyLease, a subsidiary of International Holding Company, provides turnkey, ready to go leasing solutions for customers’ motorcycle fleet needs. The company was established in 2011 and had assets of AED74.1 million as at the end of September 2020.

On this occasion, Saeed Hamad Al Dhaheri, Chief Executive of ADX, said, “We welcome EasyLease on the Second Market. It is the fourth company to be listed on the exchange during the current year. Listing provides private companies with efficient access to capital markets to raise money through equity and bond offering, thus contributing to the enrichment of the financial sector in the country. Private companies also provide more options for investors, which will contribute to bringing more depth into the markets and providing more investment alternatives for shareholders.”

In turn, Ahmad Mohammad Al Sadah, CEO of EasyLease, stated, “We have built a leading motorcycle business in Abu Dhabi, providing individuals and businesses from the capital and around the UAE with the right platform, solutions and customer support to meet their growing fleet needs. We are pleased to have listed our shares on the ADX Second Market. This step will support the strong growth of EasyLease in the long-term.”

The market value of shares owned by investors on ADX increased by approximately 41.5 percent from AED528 billion at 15th December, 2019, to AED747 billion at 15th December, 2020.

 

Source: Emirates News Agency