{"id":91637,"date":"2024-05-03T00:00:00","date_gmt":"2024-05-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/agility-global-shares-jump-more-than-four-fold-on-adx-debut\/"},"modified":"2024-05-03T00:00:00","modified_gmt":"2024-05-03T00:00:00","slug":"agility-global-shares-jump-more-than-four-fold-on-adx-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/03\/agility-global-shares-jump-more-than-four-fold-on-adx-debut\/","title":{"rendered":"Agility Global shares jump more than four-fold on ADX debut"},"content":{"rendered":"

Agility Global shares pop on the first day of trading:<\/strong> Shares in Kuwaiti logistics outfit Agility<\/a> subsidiary Agility Global closed up 327% on their trading debut on the ADX yesterday, according to market data. Trading under the ticker AGILITY, the company had set the reference price for its shares at AED 0.37 apiece. Agility Global\u2019s shares closed at AED 1.58 apiece, giving it a market cap of AED 16.46 bn.<\/p>\n

ICYMI- <\/strong>Agility received approval from the Abu Dhabi Securities Exchange (ADX) to move forward with a technical listing of Agility Global, its operations and assets management unit, on the Abu Dhabi bourse <\/span>earlier this week<\/a>. Agility\u2019s board approved <\/span>last month<\/a> an in-kind dividend distribution of some KWD 800 mn (USD 2.6 bn), representing 49% of the issued share capital of Agility Global. Following the distribution, Agility \u2014 which is listed both on the DFM and the Kuwait Stock Exchange \u2014 will remain the controlling shareholder with a 51% stake in Agility Global.<\/span><\/p>\n

Technical listing? <\/strong>A technical listing means the company\u2019s shares have been made tradeable on the bourse, without an offering of equity (primary or secondary) arranged by existing shareholders prior to the listing. This simply makes it possible for shareholders pre-transaction to start offering shares for sale to other investors via the ADX.<\/p>\n

This marks the UAE\u2019s second listing of the year<\/strong>, following Parkin\u2019s AED 1.57 bn IPO<\/a> on the DFM in March. Spinneys is set to follow soon on the DFM next Thursday, after raising AED 1.38 bn<\/a> in an oversubscribed book building process. <\/p>\n

Advisors: <\/strong>Agility tapped BHM Capital as a liquidity provider for its shares, the company said in an ADX disclosure (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Kuwaiti logistics outfit\u2019s share price reached AED 1.48 on the first day of trading<\/p>\n","protected":false},"author":1,"featured_media":91638,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[1560],"tags":[74,149],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-adx","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"40cd08aa-1d5d-4ea6-a6e3-dfba0d137825","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/2115.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Agility Global shares jump more than four-fold on ADX debut","related_issue":[91631],"teaser":"The Kuwaiti logistics outfit\u2019s share price reached AED 1.48 on the first day of trading","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.4750d57a-b5c6-4a3f-9dea-80325b2556e4.mp3"},"yoast_head":"\nAgility Global shares jump more than four-fold on ADX debut - 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