Page 56 - SALIK PR REPORT SEPTEMBER 2024

ADNH Catering to be UAE's first IPO for

action packed Q4-2024

Abu Dhabi's ADNH Catering will offer an eye-catching 9.83% to retail
investors

Published: September 30, 2024 06:33Manoj Nair, Business Editor

ADNH Catering's IPO, set to open October 7, sets up the UAE stock market for a bumper
Q4-2024.Image Credit: Supplied
Dubai: One of the UAE’s biggest food catering companies, ADNH Catering, is
the next IPO and setting up what should be one of the busiest fourth quarters
for the local stock market. The subscriptions open on October 7, which is when
the offer price will be confirmed. October 15 will mark the closing date for
subscriptions.
Part of the Abu Dhabi National Hotels’ portfolio, ADNH Catering will offer 40
per cent via the IPO, representing 900 million shares and then listing on the
ADX, according to a listing prospectus issued in the local media. In terms of
the size of the stake that’s being offered through the IPO, ADNH Catering’s
float will be one of the bigger ones in the UAE.
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GULFNEWS: ADNH Catering to be UAE's first IPO for action packed Q4-2024