Leisure & Hospitality ADNH Catering raises $235m from Abu Dhabi listing By Pramod Kumar October 16, 2024, 12:49 PM Reuters Shares of ADNH Catering will debut on the ADX on October 23, subject to regulatory approvals ADNH Catering has raised AED864 million ($235 million) by selling 900 million shares, or a 40 percent stake, on the Abu Dhabi Securities Exchange (ADX). The final offer price was AED0.96 per share, the top end of the previously announced price range. The market capitalisation on listing will stand at AED2.16 billion. The initial public offering was multiple times oversubscribed, with demand from international and regional investors, the company said in a statement, without giving more details. Shares will debut on the bourse on October 23, subject to regulatory approvals. Largest caterer in UAE gears up for IPO Abu Dhabi National Hotels launches IPO of catering unit Abu Dhabi National Hotels hires banks for catering unit IPO “We remain firmly committed to capitalising on new opportunities in the UAE and Saudi Arabia,” said CEO Clive Cowley. This month the offer price range was been set between AED0.91 and AED0.96 per share. ADNH Catering, a unit of the Abu Dhabi National Hotels Company, provides catering, cleaning, support services and personnel to private and public sector clients. The company claims it has a 28 percent market share in the UAE and has a presence in Saudi Arabia. It employs 18,000 people in the UAE and nearly 1,000 via a joint venture in Saudi Arabia.
