The Abu Dhabi Securities Exchange (ADX) has welcomed the secondary listing of Abu Dhabi Developmental Holding Company’s (ADQ) inaugural$2.5 billion bond.
ADX-listed ADQ first listed the bond on the London Stock Exchange (LSE) in April this year, as part of an effort towards diversifying its funding sources. At the time, the combined order book peaked at over $11 billion, reflecting an oversubscription of more than 4.4 times.
The dual-tranche bond, comprising a five-year $1.25 billion tranche and a ten-year $1.25 billion tranche, underscores ADX’s position as a diversified capital market and a dynamic platform for global investors.
Abdulla Salem Alnuaimi, Group CEO of ADX, said: “We are delighted to host the secondary listing of ADQ’s $2.5 billion bond on ADX and play a part in supporting ADQ’s growth strategy and bolstering the development of Abu Dhabi’s economy.”
ADQ supports its portfolio companies in laying the foundations for future listings to optimise the funding structure and uphold best-in-class corporate governance. Currently, the fund’s portfolio encompasses eight companies listed on ADX, namely TAQA, AD Ports Group, Agthia Group, Emirates Steel Arkan, PureHealth, E7 Group, Modon Holding, and Abu Dhabi Aviation.
