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Source: Thomson Reuters.   Last updated on Dec 15, 2017 at 17:56PM (UTC).   Delayed by at least 15 minutes.
Abu Dhabi Securities Exchange Announces Listing of Al Qudra Holding PJSC Shares on its Second Market
Dec 04, 2017
Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, has announced that Al Qudra Holding PJSC has listed its shares in the second market, under the symbol “Al Qudra”. Trading Al Qudra Holding’s shares officially started on Monday, December 4th 2017.
 
The company's capital is AED 808.98 million, with 808.98 million shares at par value of AED 1.00 per share. Al Qudra Holding is considered one of the largest strategic investment companies in the Emirate of Abu Dhabi. Since its inception, Al Qudra Holding has been instrumental in driving sustainable development in the region and creating added value by investing in vital sectors.
 
HE Hamad Al Shamsi, Chairman of ADX, said: "ADX is keen to attract more companies for listing on the primary and second markets, in support of the Abu Dhabi Plan's commitment to developing the investment climate of the Emirate and creating a flexible and competitive environment for business. HE Al Shamsi added: “ADX has a world-class infrastructure for the listing and trading of diversified stocks, it provides investors with the opportunity to invest their savings in a legal environment that adopts the best international practices in disclosure and transparency, within a stable economic and regulatory environment.”
 
Mr. Rashed Al Blooshi, Chief Executive of ADX, welcomed the commencement of trading of Al Qudra Holding Company shares on ADX’s second market. The second market provides
further proof of the stability of the Abu Dhabi market and its credibility among the major companies in the region. Al Blooshi said: “Listing the shares of Al Qudra Holding Company on ADX’s second market confirms the market's position as a preferred listing destination and reflects the high levels of competitiveness it offers to listed companies.”
 
Al Blooshi added: “Due to the stable trading environment, in conjunction with the innovative services and products offered by ADX, 391 new investment institutions were attracted to the exchange between Q1 to Q3 of 2017. In another encouraging sign of market growth and stability, Q3 also saw the total number of investors registered in ADX records reach 962 thousand.  Combined, these results indicate that ADX’s continued development of strategic initiatives aimed at increasing market value, best practice in governance and transparency, and innovative investment products are working to attract and activate a larger group of investors.
 
Mr. Mohammed Bin Thaloub Al Derei, Chairman of Al Qudra Holding Company, said that the listing shares of Al Qudra Holding Company on ADX is in line with the company's continued growth since its foundation,  its diversified investments in all vital sectors, and its keenness to expand the company’s business and sustainability. HE also added that the listing also reflects the company’s commitment to transparency standards.
 
Al Derei added: “This is a historic day that we will cherish, as we aspire to further develop and achieve the best for all the shareholders in the Al Qudra Holding Company. We are working to achieve an optimal balance between the company's growth and its return on investment by focusing on several key sectors. Utilising our unparalleled expertise, innovative processes and bespoke approach ensures we deliver a sustainable and positive impact in the communities in which we operate.”
ADX introduced second market listings in 2014, following the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to support sustainable economic growth integrated to all sectors. HE Al Blooshi said: “ADX boasts an integrated infrastructure ready for any new IPO, and the second market trading platform is open for listing companies across different countries, especially GCC countries, across various sectors. ADX is in talks with several other companies to join the second market alongside Al Qudra Holding, Manazel and the National Investor.”
The shareholders of Al Qudra Holding approved, last April, listing the company's shares on ADX before the end of the year 2017.
 
Mr. Khalifa Yousef Khouri, Vice Chairman of the Board said that since its establishment, Al Qudra Holding has sought to contribute to the development and growth of the Emirate of Abu Dhabi, by adopting an effective strategy, partaking in important investment development projects in various areas including real estate, services, hospitality, shopping malls, collective housing for workers, employees and diversified investments, which will increase returns from sustainable sources to shareholders' investments.
 
Al Qudra Holding continues its upward trend in net profits for the fifth year in a row, with the company's net profit rising to AED 264 million in December 2016 compared to AED 43 million in December 2012. During the same period, net profit surged from 7 fils per share in 31 December 2012 to 44 fils per share in 31 December 2016. Al Qudra Holding has also distributed dividends of the past five years- increased by 33% of total capital.
 
The company's total assets as per the reviewed financial statement to AED 4,425 million for the period ended 30 June 2017 and the total shareholders' equity for the same period reached AED 2,199 million.
 
ADX provides integrated services to market makers and liquidity providers. ADX also launched the technical short selling service, and employs Blockchain technology in electronic voting in the General Assemblies. ADX has also launched recently a series of digital services which meet the transparency and disclosure requirements, and ensure real time disclosure of information to shareholders and investors, within a transparent governance framework to meet the needs of listed companies, shareholders and financial analysts.


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