ADQ Plans to List Abu Dhabi Ports on Local Bourse This Year - Bloomberg
Sovereign wealth fund ADQ plans to list Abu Dhabi Ports on the emirate’s exchange before the end of the year, the latest in a series of planned share sales on the bourse.
The listing on Abu Dhabi Securities Exchange is expected to comprise a sale of a portion of existing shares to investors in the United Arab Emirates, according to a statement on Tuesday.
Abu Dhabi is set to list its ports operator a year after neighboring Dubai took DP World private, one of several delistings from the local bourse.
By contrast, authorities in Abu Dhabi, the wealthiest of the seven emirates that make up the UAE, have been pushing to revive IPOs on its bourse. The exchange -- also owned by ADQ -- is offering sweeteners that include flexibility on the minimum stake size required for share sales and promising to reduce or forgo listing fees. The bourse may see at least 10 new listings this year, which would be the most on record, its chairman said in May.
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