UAE-based International Holding Company’s (IHC) subsidiary Emirates Stallion Group has listed on the Abu Dhabi Securities Exchange’s (ADX) second market, making its trading debut under the ticker ESG.
Founded in 2006, Emirates Stallion Group operates in 12 markets and employs over 1000 people, and has assets of $146 million (AED537 million) at the end of the first quarter of 2021.
Saeed Hamad Al Dhaheri CEO – ADX
“The ADX continues to make strong progress in deepening the marketplace through new listings and a wider range of products and services. The market has also seen a significant increase in liquidity, make it even more attractive for investors and issuers. The Second Market offers companies such as Emirates Stallion Group access to a significant pool of capital and opens the door to building brand equity in an influential arena. For investors, the platform provides a unique opportunity to take liquid positions in early- and mid-stage growth companies operating across an increasingly vibrant regional economic landscape.”
“Listing Emirates Stallion Group on the ADX Second Market allows wider investor participation in an important business within the IHC Group. Backed by the financial strength of IHC, the second-largest company by market capitalization on the ADX, our portfolio companies have proven resilient over the last year and are well-positioned to grasp new opportunities as the UAE and regional economies make a strong rebound from the global pandemic,” commented Mr. Matar Suhail Al Yabhouni Al Dhaheri, Chairman of Emirates Stallion Group.
Emirates Stallion is the fourth IHC Group company to list on the ADX Second Market, following the successful listings of Palm Sports, Easylease, and Zee Stores in late 2020.
The Abu Dhabi Securities Exchange has seen significant growth in trading this year, with the exchange’s market capitalization rising by 25 percent in the first quarter to a new high of $25 billion (AED936 billion). According to the reports, “In the first three months of 2021, the total traded value of stocks bought and sold increased five-fold year on year to $29 billion (AED107.8 billion) and the benchmark ADX index advanced 17.2 percent.”
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