Abu Dhabi Securities Exchange (ADX) has recently announced the secondary listing of the Abu Dhabi Development Holding Company’s (ADQ) $2.5 billion bond, which was initially listed on the London Stock Exchange (LSE) in April 2024. The bond consists of a five-year $1.25 billion tranche and a ten-year $1.25 billion tranche, showcasing ADX’s role as a diversified capital market and a platform for global investors. The issuance of the bond saw significant demand from both local and international investors, with an oversubscription rate of 4.4 times.
Abdulla Salem Alnuaimi, the Group CEO of ADX, stated that the exchange will continue to provide a dynamic investment platform and market infrastructure to support companies like ADQ in achieving their objectives and contributing to Abu Dhabi’s economic diversification agenda. ADQ, as an asset owner mandated to promote the sustainable development of Abu Dhabi’s economy, assists its portfolio companies in preparing for future listings to enhance their funding structure and maintain strong corporate governance practices. As of July 2024, ADQ’s portfolio included eight companies listed on ADX, such as Taqa, AD Ports Group, Agthia Group, and others.
The listing of ADQ’s bond brings the total number of debt instruments listed on ADX to 60, showcasing the exchange’s growing prominence as a hub for debt issuances and listings. This move further strengthens ADX’s position as a key player in the region’s financial markets and enhances its appeal to a wider range of investors. By facilitating the secondary listing of prestigious entities like ADQ, ADX aims to attract more international investors and increase liquidity in the market.
ADX’s ability to provide a platform for global companies to access capital markets and raise funds through debt issuances demonstrates its commitment to supporting economic growth and development in the region. The exchange’s role in facilitating the secondary listing of ADQ’s bond highlights its capability to serve as a bridge between local businesses and international investors, creating opportunities for companies to expand their operations and achieve their strategic objectives. With a diverse range of listed companies and investment opportunities, ADX continues to play a vital role in promoting financial stability and growth in the Abu Dhabi market.
Overall, the secondary listing of ADQ’s bond on ADX reflects the exchange’s commitment to providing a robust and efficient platform for companies to raise capital and expand their investor base. By attracting prestigious entities and facilitating their listings, ADX reinforces its position as a leading financial market in the region and contributes to the overall growth and development of the Abu Dhabi economy. This move signifies a significant milestone for both ADQ and ADX, showcasing their continued collaboration and commitment to driving economic progress and innovation in the region.
