The shares of Agility Global, a subsidiary of Kuwaiti logistics major Agility, nearly quadrupled in value on its trading debut on the Abu Dhabi Securities Exchange (ADX) on Thursday.
The company’s shares opened at a price of Dh1.48 a share, a 300% increase compared to its trading reference price of Dh0.37. Agility Global finished the day as the top gainer with a 327% price increase.
At its highest, Agility Global’s shares hit a high of Dh1.58, giving the company a market value of Dh16.46 billion. The company’s stock was the second-most traded in terms of daily value and volume on the ADX.
Agility Global reported revenues of $3.9 billion in 2023 and it is said to have a book value of Dh19.6 billion. It has 50,000 employees and operations in more than 70 countries.
As the operations and assets management unit of Agility, its portfolio includes services company Menzies Aviation, Tristar, a global fuel logistics business, as well as Agility’s global logistics parks business in Saudi Arabia, Africa and South Asia. Other businesses include a remote site company GCC Services, a defence and government services logistics business and a digital logistics platform Shipa.
Agility Global’s parent company is listed on the Kuwait Stock Exchange and Dubai Financial Market. It currently holds a controlling 51% stake of Agility Global.
