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10/4/24, 9:28 AM ADNH Catering IPO: Abu Dhabi company plans to list 40% of its shares on ADX | The National
The company has clients across government and the private sector, “with over 90 per cent
of our contracts lasting for over five years", he said.
Listing boom
ADNH Catering is the latest company seeking to capitalise on the economic momentum in
the UAE, the Arab world's second-largest economy, and comes amid the continuing IPO
boom in the country driven by growing investor demand.
It follows the listing of NMDC Energy, a unit of Abu Dhabi contractor National Marine
Dredging Company, which began trading on the ADX after closing the biggest IPO in the
Emirates this year.
The float, which was oversubscribed by more than 31 times, raised Dh3.22 billion ($871.9
million) through the sale of 23 per cent of the company's total share capital to retail and
qualified institutional investors at Dh2.8 per share.
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