Latest news with #AbuDhabiSecuritiesExchange
Al Etihad
5 days ago
- Business
- Al Etihad
UAE stock markets rebound
16 June 2025 21:01 A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets on Monday recovered some losses suffered after the escalation of the Iran-Israel Abu Dhabi Securities Exchange (ADX) recorded gains, with its general index (FADGI) rising by 0.218% to close at 9,584.85. A total of 28,212 trades were executed, involving 368 million shares with a combined value of Dh1.383 billion. The total market capitalisation of all companies listed on the ADX stood at Dh2.987 trillion, which had fallen below the Dh3 trillion milestone due to escalating geopolitical Dhabi led the rally with a nearly 3% gain, followed by ADNOC Gas with a nearly 2% rise, and Multiply with a nearly 1% increase. Other top gainers on the ADX included Abu Dhabi National Company for Building Materials (+11.57%), Sudatel (+9.95%), and Presight AI (+5.83%). Notable decliners were UAQ Investments (-9.50%), Hayah Insurance (-5.17%), and Gulf Medical Projects (-2.63%). DFMThe Dubai Financial Market's general index (DFMGI) rose by 0.789% to close at 5,407. A total of 16,836 trades were executed on the DFM, involving 293 million shares with a combined value of Dh726 million. Share prices of 33 companies rose, 14 declined, and five remained unchanged. Amlak Finance led the rally with a 10% rise in share price, followed by DEWA (2.2%) and Emaar Developments (2.2%). The merger of Emirates Islamic Bank (EIB) with Emirates NBD has been completed, with the DFM announcing that all remaining shares have been transferred to the parent company. Among the other top gainers on Monday were United Foods (+9.58%), National General Insurance (+5.69%), and Al Salam Sudan (+5.26%). On the losing side, Al Ramz Capital fell by 9.60%, followed by Chimera S&P UAE Shariah ETF (-4.35%), BHM Capital (-2.33%), and NIH (-2.17%). Source: Aletihad - Abu Dhabi
Al Etihad
10-06-2025
- Business
- Al Etihad
ADNOC Distribution burnishes its ESG credentials
10 June 2025 17:31 A. SREENIVASA REDDY (ABU DHABI) ADNOC Distribution has demonstrated significant strides in its Environmental, Social, and Governance (ESG) agenda throughout 2024, as outlined in its comprehensive annual ESG report submitted to the Abu Dhabi Securities Exchange (ADX). This report not only highlights the company's progress but also underscores its commitment to sustainability as a fundamental aspect of its long-term strategy, signalling an ambition to lead the energy sector's transition towards a lower-carbon future. The year 2024 was marked by a series of tangible achievements across its six sustainability pillars, reflecting a dedication to transparency and stakeholder the realm of Climate, Emissions, & Energy, ADNOC Distribution achieved notable success with 100% of its UAE fleet operating on biofuels, leading to a substantial annual emissions reduction. All energy supplied for electric vehicle (EV) chargers is now derived from clean and renewables-based sources, with significant solar photovoltaic energy (5,083 MWh PV) generated from service station rooftops in Abu Dhabi and Dubai. The company also expanded its EV charging network to 220 fast and super-fast chargers and launched the second phase of its H₂GO pilot green hydrogen refuelling station. For the Local Environment, initiatives included planting over 25,000 mangrove seeds and collecting more than 5.8 million bottles through Reverse Vending Machines, alongside recording zero negative impacts on biodiversity and consistently conducting HSE impact company's Economic and Social Contribution saw it achieve a 71.4% In-Country Value contribution, alongside reporting its highest EBITDA since IPO at Dh3.86 billion and revenues of Dh35.45 billion. Investment in CSR initiatives was substantial, and the expansion of retail fuel infrastructure continued. Significant progress was made in Workforce Diversity and Development, with ADNOC Distribution employing a diverse workforce of 77 nationalities and increasing women's representation across various management and STEM roles. The Emiratisation rate surpassed 62%, and extensive training, wellbeing initiatives, and ESG awareness programmes were delivered to employees. Under Health, Safety, & Security, the company maintained an impressive safety record with zero fatalities and high-consequence work-related injuries, implementing fatigue management systems and conducting numerous HSE audits. Lastly, in Business Sustainability, an ESG Subcommittee was established at the Board level to embed sustainability into strategic decision-making. The company also secured ISO 22241 certification for ADNOC Blue, successfully met KPIs under its sustainability-linked loan, and enhanced its ESG ratings, leading to inclusion in prestigious ESG-linked company's leadership emphasised the strategic significance of these accomplishments. Eng. Bader Saeed Al Lamki, Chief Executive Officer, ADNOC Distribution, expressed his pride in the "remarkable strides ADNOC Distribution has made in our ongoing commitment to sustainability, innovation, and responsible growth." He specifically highlighted the expansion of the EV charging network, which quadrupled its reach, stating: "This expansion supports the UAE's transition to cleaner energy and makes sustainable mobility more accessible than ever." Paula Disberry, Chairwoman of the ESG Subcommittee, ADNOC Distribution, articulated her belief that "sustainability is not just a responsibility—it is an opportunity to drive long-term value for our stakeholders." She underscored that 2024 was "a pivotal year for ADNOC Distribution's ESG agenda,' marked by the establishment of the ESG Subcommittee to integrate risks, opportunities, and stakeholder expectations into business strategies. Athmane Benzerroug, Chief Strategy, Transformation, and Sustainability Officer, ADNOC Distribution, confirmed the company's advanced sustainability efforts "with a heightened sense of responsibility and a clear path forward.' He detailed the decarbonisation roadmap, aiming to reduce carbon intensity by 25% by 2030 and accelerate Net Zero by 2045, further adding, "Our focus on sustainable energy has reached new heights with the successful expansion of our hydrogen infrastructure."
Al Etihad
02-06-2025
- Business
- Al Etihad
Over 1% FAB shares sold in bulk transactions
2 June 2025 11:28 A. SREENIVASA REDDY (ABU DHABI)The Abu Dhabi Securities Exchange (ADX) on Monday reported large-scale bulk transactions involving shares of First Abu Dhabi Bank (FAB), the UAE's largest bank.A total of 113.356 million shares, valued at Dh1.757 billion, were traded across 32 transactions at an average price of Dh15.5 — a slight discount compared to FAB's closing price of Dh16.1 on Friday. The number of shares traded constitutes slightly above 1% of total shares of 11.047 billion. International wire agencies reported a big secondary sale of FAB shares on Friday, quoting Citi, which is said to be the bookrunner for the deal.'The selling shareholder, whose name was not disclosed, is offering around 113 million shares at a price of Dh15.5 per share through an accelerated bookbuilding,' Reuters said, quoting a Citi reported total assets of Dh1.31 trillion as of the end of March, while its market capitalisation currently stands at Dh174 billion, according to the latest data available from information published on FAB's official website, as of March 31, 2025, shows that Mubadala Investment Company holds the largest stake at 37.9%, followed by Abu Dhabi's ruling family (18%), and other UAE entities and individuals (21.7%). Foreign ownership accounts for 22.4%, while the free float — the proportion of shares available for trading on public markets — is listed at 42%. Stock Markets Continue full coverage
Al Etihad
29-05-2025
- Business
- Al Etihad
ADX market cap crosses Dh3 trillion mark again
29 May 2025 23:07 REDDY (ABU DHABI)The combined market capitalisation of all companies listed on the Abu Dhabi Securities Exchange (ADX) crossed the Dh3 trillion mark once again on the ADX market cap surpassed this milestone on February 10, 2025. At the close of trading on Thursday, the total market cap of companies listed on both the main and growth markets of ADX stood at Dh3.007 exchange first crossed the Dh2 trillion mark in June 2022, and it took nearly three years to reach the next significant threshold in February 2025. However, after briefly staying above Dh3 trillion, the market cap retreated due to volatile conditions triggered by tariff wars and geopolitical tensions. The recent rally in the markets has now pushed the valuation past the Dh3 trillion mark once has witnessed substantial growth in recent years, driven by a strong economy, increasing foreign investment, and a surge in initial public offerings (IPOs). In 2024 alone, 28 new securities were listed, bringing the total to 187. In the first quarter of 2025, information technology firm Alpha Data made its market debut following a successful IPO, amid growing optimism that Abu Dhabi's flagship airline, Etihad Airways, may also launch an IPO this 2024, ADX ranked among the top five global exchanges by IPO proceeds, with offerings raising approximately $3.35 billion. It captured 38% of all IPO proceeds in the Middle East and 80% of those within the UAE, according to a Wam report on the year's its position as the second-largest exchange in the region, ADX also held its place among the world's top 20 stock markets. Its consistent global ranking reflects a well-regulated, investor-friendly environment. 'This milestone enhances the exchange's reputation and boosts investor confidence, paving the way for sustained growth and further capital market development in the UAE,' said Samer Mardini, Chief Investment Officer at Yorklyn Asset Management.
Arabian Business
29-05-2025
- Business
- Arabian Business
Investcorp exits 12 US residential multiple-occupancy assets
Bahrain's Investcorp Capital has exited 12 residential multiple-occupancy real estate assets across five states in the United States for an approximate value of US$550 million. Despite a tempered multifamily (multiple-occupancy real estate assets) market, Investcorp said in a filing with the Abu Dhabi Securities Exchange (ADX) that the exit was secured at a premium. The 12 residential buildings have an average occupancy of 94 per cent and are situated in desirable rental markets in Atlanta, Georgia; Philadelphia, Pennsylvania; Raleigh, North Carolina; St Louis, Missouri; and Tampa and Orlando in Florida. Mohamed Aamer, Interim Chief Executive Officer, commented: 'Though rent growth has cooled from the highs we saw in recent years, the long-term fundamentals supporting the multifamily sector remain compelling. Our latest exits reflect the confidence in the sector, as well as Investcorp's ability to capitalise on attractive opportunities and leverage operational expertise to create value. 'Our team will continue to evaluate properties across target markets, identifying opportunities that will deliver to shareholders.' According to Real Capital Analytics, Investcorp Group is among the top-5 largest cross-border buyers of US real estate over the past five years. Almost 98 per cent of the firm's portfolio consists of industrial or residential properties.
