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.
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