All aboard! Abu Dhabi Ports Group recently announced a frenzy of positivity for investors this past week. First up, the groups' share price rocketed by 15% upon its stock market debut on the Abu Dhabi Securities Exchange (ADX). Figures rose from AED 3.2 to a buoyant AED 3.69 (or, $1) at the close. This came on the back of its recent IPO where it raised $1.1b. And… breathe!
The company, which operates the country's wharves, docks, waterways, harbors, ports, and bridges shows the rising wave of investors pumping into the ADX. Amidst a stuttering start and slowdown in global stocks (and the crypto world), investors are looking towards the Gulf to make a positive return on their investment.
Why it matters
There's been a recent listing spree on the ADX with the Abu Dhabi Ports Group following the well-trodden path of Abu Dhabi National Oil Company (ADNOC). ADX is proving its worth as a worthy marketplace for businesses and investors alike.
