Reuters reveals Abu Dhabi Ports secures investment from conglomerate IHC ahead of listing | Reuters News Agency
Business & FinanceDeals

Reuters reveals Abu Dhabi Ports secures investment from conglomerate IHC ahead of listing

Reuters broke the news that Abu Dhabi conglomerate IHC had taken a 7.4% stake in Abu Dhabi Ports Group ahead of the latter’s listing on the stock market. AD Ports, which is owned by sovereign wealth fund ADQ, said earlier on Monday that it had raised 4 billion dirhams in proceeds from its primary issuance and would list its shares on the Abu Dhabi Securities Exchange (ADX). AD Ports, which operates ports, logistics and industrial zones, said the funds raised would be used to grow organically and via acquisitions, as the company plans to expand both locally and internationally. 

Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & FinanceEquities
Regions: Middle East
Countries: UAE
Win Types: Speed
Media Types: Text
Customer Impact: Important Regional Story
FILE PHOTO: Containers are seen at Abu Dhabi's Khalifa Port, UAE, December 11, 2019. REUTERS/Satish Kumar/File Photo
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