{"id":543619,"date":"2022-02-09T04:09:57","date_gmt":"2022-02-09T04:09:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/09\/abu-dhabi-ports-shares-surge-on-adx-following-ipo-dubais-shuaa-wants-to-spac\/"},"modified":"2022-02-09T04:09:57","modified_gmt":"2022-02-09T04:09:57","slug":"abu-dhabi-ports-shares-surge-on-adx-following-ipo-dubais-shuaa-wants-to-spac","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/09\/abu-dhabi-ports-shares-surge-on-adx-following-ipo-dubais-shuaa-wants-to-spac\/","title":{"rendered":"Abu Dhabi ports shares surge on ADX following IPO + Dubai\u2019s SHUAA wants to SPAC"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a><strong> Shares in Abu Dhabi Ports jumped as much as 17% on its ADX debut yesterda<\/strong><strong>y, <\/strong>marking the latest success for Gulf listings, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-08\/abu-dhabi-ports-surges-on-debut-after-1-1-billion-share-sale?srnd=premium-middle-east\">Bloomberg<\/a> reports. The company, which is majority-owned by Abu Dhabi sovereign wealth fund ADQ, raised USD 1.1 bn from its IPO ahead of its debut on the Abu Dhabi Securities Exchange. Shares in the port operator rose to AED 3.75 yesterday from the offer price of AED 3.20, before closing at AED 3.61 per share.<\/p>\n<p><strong>Dubai\u2019s Shuaa Capital is jumping on the SPAC train:<\/strong> Dubai-listed investment bank <a href=\"https:\/\/www.shuaa.com\/\">Shuaa Capital<\/a> has filed a registration statement with the US Securities and Exchange Commission to launch a USD 100-200 mn special purpose acquisition company (SPAC) to be listed on the Nasdaq, the company announced in a statement that was picked up by several publications <a href=\"https:\/\/www.reuters.com\/markets\/us\/dubais-shuaa-capital-files-with-sec-potential-spac-listing-ny-2022-02-08\/\">including Reuters<\/a>.<\/p>\n<p><strong>In other global business news:<\/strong><\/p>\n<ul>\n<li><strong>Earnings:<\/strong> Oil giant BP has reported its highest annual earnings in eight years, announcing yesterday income of USD 12.8 bn in 2021, up from a USD 5.7 bn loss the year prior. (<a href=\"https:\/\/www.bp.com\/en\/global\/corporate\/investors\/results-and-presentations\/quarterly-results-and-webcast.html\">Earnings release<\/a>)<\/li>\n<li><strong>Turkey to return to the bond market: <\/strong>Turkey is in talks with banks to hold its first international bond sale since the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d01b3fc9-6917-4576-bbcc-213d8bdd1a01\">TRY plunged last year<\/a>. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-07\/turkey-said-to-ready-first-global-bond-sale-since-lira-implosion?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<\/ul>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,528<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: -3.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,226<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +8.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,780<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: +3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,214<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,522<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -5.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,567<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +2.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 90.78<\/p>\n<\/td>\n<td>\n<p>-2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.23<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,827<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 44,258<\/p>\n<\/td>\n<td>\n<p>+0.4% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.2% at yesterday\u2019s close<\/strong> on turnover of EGP 369 mn (65% below the 90-day average). Foreign investors were net sellers. The index is down 3.5% YTD.<\/p>\n<p><strong>In the green: <\/strong>Rameda (+2.5%), EFG Hermes (+2.2%) and GB Auto (+2.2%).<\/p>\n<p><strong>In the red: <\/strong>Fawry (-2.2%), Medinet Nasr Housing (-2.1%) and AMOC (-1.6%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares in Abu Dhabi Ports jumped as much as 17% on its ADX debut yesterday, marking the latest success for Gulf listings, Bloomberg reports. The company, which is majority-owned by Abu Dhabi sovereign wealth fund ADQ, raised USD 1.1 bn from its IPO ahead of its debut on the Abu Dhabi Securities Exchange. Shares in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[600,299,581,82,196,72,119,78,120,122,814,439,218,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543619","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-abu-dhabi-ports","tag-adq","tag-adx","tag-bonds","tag-bp","tag-enterpriseam","tag-financial-markets","tag-ipo-watch","tag-nasdaq","tag-planet-finance","tag-shuaa-capital","tag-spacs","tag-turkey","tag-uae","wpautop","entry"],"acf":{"mongo_id":"14cbdcbd-bf08-40f0-bd11-2a81f2b704b4","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[543596],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.fdb63395-9246-465a-a102-6bfa36a0b2dd.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Abu Dhabi ports shares surge on ADX following IPO + Dubai\u2019s SHUAA wants to SPAC - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/09\/abu-dhabi-ports-shares-surge-on-adx-following-ipo-dubais-shuaa-wants-to-spac\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abu Dhabi ports shares surge on ADX following IPO + Dubai\u2019s SHUAA wants to SPAC\" \/>\n<meta property=\"og:description\" content=\"Shares in Abu Dhabi Ports jumped as much as 17% on its ADX debut yesterday, marking the latest success for Gulf listings, Bloomberg reports. 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The company, which is majority-owned by Abu Dhabi sovereign wealth fund ADQ, raised USD 1.1 bn from its IPO ahead of its debut on the Abu Dhabi Securities Exchange. 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