Emirates Stallion Group lists on ADX second market
ABU DHABI, Emirates Stallion Group, a diversified investment, engineering, and construction services business owned by International Holding Company (IHC), has listed on the Abu Dhabi Securities Exchange’s second market, making its trading debut today under the ticker ESG.
Established in 2006, Emirates Stallion Group, which is present in 12 markets, had assets of AED537 million as of the end of Q1 2021 and over 1000 employees.
Saeed Hamad Al Dhaheri, Chief Executive Officer of ADX, commented, “The ADX continues to make strong progress in deepening the marketplace through new listings and a wider range of products and services. The market has also seen a significant increase in liquidity, make it even more attractive for investors and issuers. The Second Market offers companies such as Emirates Stallion Group access to a significant pool of capital and opens the door to building brand equity in an influential arena. For investors, the platform provides a unique opportunity to take liquid positions in early- and mid-stage growth companies operating across an increasingly vibrant regional economic landscape.”
Matar Suhail Al Yabhouni Al Dhaheri, Chairman of Emirates Stallion Group, said, “Listing Emirates Stallion Group on the ADX Second Market allows wider investor participation in an important business within the IHC Group. Backed by the financial strength of IHC, the second-largest company by market capitalisation on the ADX, our portfolio companies have proven resilient over the last year and are well-positioned to grasp new opportunities as the UAE and regional economies make a strong rebound from the global pandemic.”
Emirates Stallion is the fourth IHC Group company to list on the ADX Second Market, following the successful listings of Palm Sports, Easylease and Zee Stores in late 2020.
Trading on the Abu Dhabi Securities Exchange has increased notably this year, as the exchange’s market capitalisation increased 25 percent during the first quarter to a record AED936 billion. In the first three months of 2021, the total traded value of stocks bought and sold increased five-fold year on year to AED107.8 billion and the benchmark ADX index advanced 17.2 percent. Meanwhile, buying and selling by institutional investors increased significantly to AED92.6 billion in value, from AED14.6 billion, while trading by retail investors more than doubled to AED15.1 billion.
Source: Emirates News Agency