ADQ, one of the region’s largest holding companies, has revealed its intentions to proceed with listing shares of Abu Dhabi Ports Company, an Abu Dhabi-based global trade enabler encompassing diverse assets, on the Abu Dhabi Securities Exchange (ADX).
The listing of the company, which operates ports, industrial cities and free zones, maritime, logistics and digital in Abu Dhabi, is expected to take place before the end of this year, subject to market conditions and regulatory approvals, ADQ said in a statement. The listing on the ADX is expected to comprise a sale of a portion of existing shares to investors in the UAE.
H.E. Falah Mohammed Al Ahbabi Chairman-Abu Dhabi Ports
“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.”
H.E. Mohamed Hassan Alsuwaidi, Chief Executive Officer, 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.”
Abu Dhabi Ports reported revenue of $930 million, for the year ended 31 December 2020, marking a growth of 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 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 $840 million reaching a total of $6.75 billion as of 31 December 2020.
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