- Abu Dhabi Development Holding Company (ADQ), a UAE sovereign fund, has successfully completed the secondary listing of its $2.5 billion bond on the Abu Dhabi Securities Exchange (ADX). Initially listed on the London Stock Exchange in April 2024, the bond comprises a dual-tranche with a five-year $1.25 billion tranche and a 10-year $1.25 billion tranche.
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The bond issuance was oversubscribed 4.4 times, demonstrating strong investor confidence in ADQ’s credit profile and the economic stability and prospects of Abu Dhabi. With this new listing, ADX now has 60 debt instruments listed. As of July 2024, eight of ADQ’s portfolio companies are listed on ADX, including TAQA, AD Ports Group, Agthia Group, Emirates Steel Arkan, PureHealth, E7 Group, Modon Holding, and Abu Dhabi Aviation.
Why it matters
This development highlights the growing appeal and confidence in Abu Dhabi’s financial markets.
