Monday, May 27, 2024
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Agility Global’s Zoom 300% on The Market Debut in Abu Dhabi

Agility Global’s shares, a part of the Kuwait-based Agility Public Warehousing Company, experienced a 300% increase during its initial trading session on the Abu Dhabi Securities Exchange (ADX).

Shares began trading at Dh1.48, compared to a Dh0.37 trading reference price. Agility Global ended the day as the largest gainer, rising 327 percent, and ranked second on ADX regarding market value and volume. At its peak, the market value of the shares was Dh1.66 billion, or Dh1.58 billion.

“The listing of Agility Global on the ADX crystallizes the value of our assets and enables the company to access additional capital markets to drive further growth,” stated Tarek Sultan, Agility Public Warehousing Company vice-chairman. The new listing for Agility Global marks a significant turning point in our continuous expansion and value-creation journey, which we started in Kuwait in 1997.

Among the company’s assets are Agility Logistics Parks, a prominent owner and developer of industrial real estate in the area, Africa, and South Asia, Menzies Aviation, a provider of aviation services, and Tristar, a provider of energy logistics solutions. In addition, Agility Global owns a 9% share in DSV, the third-biggest goods forwarder globally.

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