By: Mahmoud Gamal
Abu Dhabi – Mubasher: Al Qudra Holding will list its stake on the Abu Dhabi Securities Exchange’s (ADX) secondary market under the symbol of “ALQUDRA” on Monday.
In April, the company’s shareholders had agreed on listing the firm on the second market of the ADX by the end of 2017.
The Abu Dhabi- based Al Qudra Holding is a private joint stock company working in the sectors of oil and gas, banking and finance, project management, and diversified investments.
Opportunity for joint stocks
The anticipated success of Al Qudra Holding’s listing will draw the attention of small and medium-sized enterprises to the second market of the ADX, CEO of MindCraft Consultants Fadi El-Ghattis told Mubasher.
The secondary market is an opportunity to prepare private joint stocks to become public and to help bolster its activities and boost its capital, El-Ghattis highlighted.
The secondary market had only witnessed three initial public offerings (IPOs), including Manazel Real Estate and The National Investor (TNI), in addition to Dubai-based Al Safwa Mubasher Financial Services.
Addition to market
Any new listing of a reputable company in terms of history and financials is an addition to the market that will boost liquidity, Al-Sharhan Centre general manager Gamal Agag said.
Trading on Al Qudra’s stocks will be limited after a period from listing as the firm has a small base of investors because it is a joint stock company and investors do not have much information about the secondary market, Agag noted.
Positive impact
Moreover, Eyad Al Bouriki, general manager of Al Ansari Financial Services, said that this listing will have a positive effect on the secondary market as Al Qudra Holding is one of the leading real estate firms in the UAE.
Al Qudra’s listing will boost the ADX’s liquidity, as well as the market value of the real estate sector, Al Bouriki added.
Translated by: Mai Ezz El-Din
