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ADX welcomes secondary listing of inaugural ADQ $2.5 billion bond

ADX welcomes secondary listing of inaugural ADQ $2.5 billion bond
4 July 2024 12:52

ABU DHABI (WAM)

Abu Dhabi Securities Exchange (ADX), one of the fastest-growing exchanges in the world, announced on Thursday the secondary listing of the Abu Dhabi Development Holding Company’s (ADQ) $2.5 billion bond, first listed on the London Stock Exchange (LSE) in April 2024.

The dual tranche bond, comprising a five-year $1.25 billion tranche and a ten-year $1.25 billion tranche, underscores ADX’s position as a diversified capital market and a dynamic platform for global investors.

The bond issuance had been met with significant local and international investor demand and was oversubscribed 4.4 times, highlighting investor confidence in ADQ’s robust credit profile and the economic stability and prospects of Abu Dhabi.

Abdulla Salem Alnuaimi, Group CEO of ADX, said, “We are delighted to host the secondary listing of ADQ’s $2.5 billion bond on ADX and play a part in supporting ADQ’s growth strategy and bolstering the development of Abu Dhabi’s economy. As one of the key pillars of the Emirate’s capital market, ADX will continue to provide an agile and dynamic investment platform and market infrastructure to enable companies like ADQ to achieve their objectives and further Abu Dhabi’s economic diversification agenda.”

As an asset owner mandated to contribute to the sustainable development of Abu Dhabi’s economy, ADQ supports its portfolio companies in laying the foundations for future listings to optimise the funding structure and uphold best-in-class corporate governance.

As of July 2024, ADQ’s portfolio encompassed eight companies listed on ADX, namely TAQA, AD Ports Group, Agthia Group, Emirates Steel Arkan, PureHealth, E7 Group, Modon Holding, and Abu Dhabi Aviation.

With this listing, the number of debt instruments listed on ADX reaches 60.

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