Comment / Against the odds: Abu Dhabi Ports in rocking IPO debut

The port industry has welcomed a newly-listed operator after Abu Dhabi Ports (ADP) completed its partial initial public offering and began trading on the Abu Dhabi Exchange (ADX) today.

ADPORTS shares on the ADX debuted at AED3.2 ($0.87) per share and had gained about 16% by mid-morning to AED3.72.

Formally 100% controlled by the state-owned by Abu Dhabi Development Fund (ADQ), just under 25% of ADP’s stock is now free to trade following a pre-listing primary issuance that raised AED4bn ($1.08bn).

The deal ...