ADNOC Distribution’s listing on ADX will bring in great value, says chairman

ADNOC Distribution’s listing on ADX will bring in great value, says chairman
H E Hamad Abdullah Al Shamsi and Sultan Ahmed Al Jaber, ADNOC Group CEO, ring the bell to launch the successful IPO of ADNOC Distribution at ADX
Published: 18 December 2017 - 8 a.m.
By: Namitha Madhu

ADNOC Distribution, which recently listed its shares on the Abu Dhabi Securities Market (ADX), will bring in great value to the bourse, according to its chairman, H E Hamad Abdullah Al Shamsi.

He said in a press statement that the subscription has stregthened ADX's market capitalisation by 7.2%.

"ADNOC Distribution is the largest offering of its kind in the Abu Dhabi Securities Market over the last ten years. This is an additional confirmation of ADX’s success in developing a world-class infrastructure for the listing and trading of diversified securities," H E Shamsi said.

"The listing of ADNOC Distribution will bring great value to the financial market. The listing will broaden the number of private investors, who will benefit from the long-term return on investment in the company. It will also attract additional foreign investment into the UAE capital markets, and strengthen ADX’s position within the region by increasing its market capitalisation by 7.2%.”

Rashid Al Baloushi, CEO, ADX, said that those looking to buy shares can make use of the bourse’s eKtetab platform, which provides a range of application, data visualisation and reporting tools for investors.

“Investors can obtain an investor number in less than 60 seconds, as well as have the opportunity to modify their data, and view the investment statements,” he said.

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