The listing of ADNH Catering (ADNH Catering or the Company), a prominent provider of food and support services in the United Arab Emirates, was announced on Wednesday by the Abu Dhabi Securities Exchange, one of the world’s fastest-growing stock exchanges.
Following a successful initial public offering (IPO), ADNH Catering joins ADX. ADNH Catering’s shareholder, Abu Dhabi National Hotels Company, raised Dhs 864 million ($235 million) via the sale of 900 million offer shares, or 40% of its entire issued share capital. The offering was oversubscribed more than 15 times and generated more than Dhs13 billion in demand, demonstrating the high demand from both domestic and foreign investors.
The company’s strong market position, which is based on its established activities across important sectors in the United Arab Emirates and Saudi Arabia, is reflected in its successful IPO. In the fiscal year that concluded on September 30, 2023, ADNH Catering served 262 customers with around 160 on-site kitchens and supplied approximately 11 million meals monthly as of June 30, 2024. With planned expansion in Riyadh, Jeddah, and the East, its footprint in Saudi Arabia is expected to increase even further. “We congratulate ADNH Catering on their successful listing and welcome the Company to the ADX family,” stated Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX.
