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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
ADNH Catering IPO: Abu Dhabi company plans to list 40% of its shares on ADX

The catering unit of Abu Dhabi National Hotels will sell shares through three dedicated tranches and aims to
start trading this month

Sarmad Khan
September 30, 2024

ADNH Catering, a unit of Abu Dhabi National Hotels, plans to list 40 per cent of its share

capital on the Abu Dhabi bourse, as it seeks to leverage the economic momentum

and listing boom in the Emirates this year.

The company plans to issue 900,000,000 shares with a nominal value of Dh 0.10 a share

through an initial public offering on the main bourse of the Abu Dhabi Securities

Exchange, it said on Monday.

All shares being offered for sale through the public float are held by the company's parent

ADNH, which also trades on the ADX.

UAE retail and institutional investors, along with ADNH employees, can subscribe to the

IPO through three dedicated tranches. Up to 10 per cent of the share offering will be made

available for allocation to existing shareholders of ADNH Group.

The subscription period for the deal will begin on October 7 and will end on October 14

for UAE retail investors and eligible employees, while it will close October 15 for

professional investors.

The company said its final offering price will be determined through a book building

process and it expects its shares to start trading on the ADX in October after the regulatory

approvals.

“ADNH Catering is a market leader in the UAE with approximately 28 per cent share of

its addressable market and a diversified client base across five strategic sectors,” Clive
Cowley, chief executive of ADNH Catering, said.

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