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Wednesday, December 6, 2023

13 Private Companies Complete Major UAE Listings; Increase Capital to $2.3 Billion


The Securities and Commodities Authority (SCA) announced that at the end of last year, the total number of private joint-stock companies listed on the country’s capital market was 13, with a total capital of AED8.3 billion (US$2.3 billion).

The companies are divided into 12 companies listed on the Abu Dhabi Securities Exchange (ADX) and one company listed on the Dubai Financial Market (DFM), the SCA added in a recent report.

Companies listed on the ADX reportedly include:

*Manazel (formerly Wahid Properties) with a capital value of AED 2.6 billion

*Anan Investment Holding (formerly known as Wahat Al-Zawiya) with a capital value of AED 2.31 billion

*Al-Seer Equipment and Marine Supplies (formerly known as Al-Seer Marine) with a capital value of AED 1 billion

*Q Holding (formerly known as Al-Qudra Holding) with a capital value of AED 808.9 million

*National Investor (formerly National Holding) with a capital value of AED 310 million

*Foodco National Foodstuff (formerly known as Nakhil Foodstuff) with a capital value of AED 280 million

*ASG Stallions Emirates (formerly known as Al-Shabab Sports Club) with a capital value of AED 250 million

* Response Plus Holding (formerly known as Al-Respos Group) with a capital value of AED 200 million

*Palms Sports (formerly known as Al-Nasr Sports Club) with a capital value of AED 150 million

*Food Holding (formerly Costume Retail) with a capital value of AED 100 million

*Sawaeed Holding has a capital value of AED 51.1 million and

Easy Lease Motorcycle Rentals with a market value of 30 million

The only company listed on the DFM is BHM Capital for Financial Services with a capital of AED 173.4 million.

SCA said that bringing private joint-stock companies into the local market will help the company gain a huge capital base and pave the way for effectively enhancing brand value.

This forms a key part of the integrated life system the country has built to embrace and support companies of all sizes, from start-ups to large corporations. It says it offers one of the best and most convenient business environments in the world.

Last year, ADX launched Nomu Market, a new brand of “secondary market” platform, to provide an advanced trading platform connecting investors with private companies and complementing the growing dynamic system of emerging and promising growth companies in Abu Dhabi.

It said the market provided private companies with access to a wider investor base.

Companies interested in listing on the ADX Nomu Market receive all the support they need throughout the listing process.

In its statement, SCA said the market also provides support for companies in the post-listing stage, including access to annual general meeting management services, dividend distribution and corporate communications support.

Eligibility for listing on the Nomu market includes changing the legal form of the company to a private joint stock company, provided the company has been established for at least two years, in addition to submitting audited financial statements and listing not less than 5% of its capital, it added.-TradeArabia News Service


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