Abu Dhabi Ports Raises $1.1 Billion in Share Sale
- Proceeds from share offering to be used to finance growth
- Wealth fund ADQ to hold 75.44% stake in listed entity
This article is for subscribers only.
Abu Dhabi Ports Group, controlled by sovereign wealth fund ADQ, raised 4 billion dirhams ($1.1 billion) from a share sale and plans to list on the emirate’s stock market on Tuesday.
The proceeds will be used to finance growth, allowing Abu Dhabi Ports to “accelerate local and international expansion plans,” according to a statement. The company offered 1.25 billion shares at 3.20 dirhams ($0.87) each, people familiar with the matter said last month.