ADX to list ADNH Catering tomorrow
Oct 23, 2024
Abu Dhabi [UAE], October 23: Abu Dhabi Securities Exchange (ADX) announced that the shares of ADNH Catering PLC will be listed in ADX under the trading symbol (ADNHC) with effect from Wednesday, 23rd October 2024 in the First Market.
The company's share price shall be floated for three trading sessions starting from the listing date, so that the price is not subject to the permitted daily rise and fall limits (15% highest and 10% lowest) during these three sessions.
In accordance with the decision of the ADX Board of Directors, the reference price of the company's shares when it begins trading in the market is the final offering price for public subscription which is AED 0.96
The company has successfully completed the bookbuild and public subscription process for its initial public offering (IPO) on ADX.
A total of 900 million shares were made available in the offering, representing 40% of ADNH Catering's total issued share capital, raising gross proceeds of AED864 million, and implying a market capitalisation of the Group at listing of AED2.16 billion.
Source: Emirates News Agency
