Emirates Stallion Group, a diversified investment, engineering, and construction services business owned by International Holding Company (IHC), has listed on the Abu Dhabi Securities Exchange’s second market, making its trading debut under the ticker ESG.
Established in 2006, Emirates Stallion Group, is present in 12 markets, and had assets of Dhs537m as of the end of Q1 2021, with over 1000 employees.
ESG has grown to become the region’s only all-encompassing real estate partner. It is home to 5 fully owned subsidiaries, 90+ operational sites, 12 marketplace presence and 4 associates and joint ventures. The subsidiaries include Century Real Estate, Royal Development Company, Abu Dhabi Land General Contracting, Gulf Dunes Landscaping and Agricultural services and RAPM Architect Project Management.
“Listing Emirates Stallion Group on the ADX Second Market allows wider investor participation in an important business within the IHC Group. Backed by the financial strength of IHC, the second largest company by market capitalisation on the ADX, our portfolio companies have proven resilient over the last year and are well positioned to grasp new opportunities as the UAE and regional economies make a strong rebound from the global pandemic,” said Matar Suhail Al Yabhouni Al Dhaheri, chairman of ESG.
Emirates Stallion is the fourth IHC Group company to list on the ADX Second Market, following the successful listings of Palm Sports, Easylease and Zee Stores in late 2020.
Earlier this month, IHC had confirmed that three of its subsidiaries, Emirates Stallion Group, Al Seer Marine and a third yet unnamed company, will be listed on the exchange’s Second Market in Q2 2021.
Trading on the Abu Dhabi Securities Exchange has increased notably this year, as the exchange’s market capitalisation increased 25 percent during the first quarter to Dhs936bn. In the first three months of 2021, the total traded value of stocks bought and sold increased five-fold year-on-year to Dhs107.8bn and the benchmark ADX index advanced 17.2 percent, according to state-run news agency WAM,
Meanwhile, buying and selling by institutional investors increased significantly to Dhs92.6bn in value, from Dhs14.6bn, while trading by retail investors more than doubled to Dhs15.1bn.
“The ADX continues to make strong progress in deepening the marketplace through new listings and a wider range of products and services. The market has also seen a significant increase in liquidity, make it even more attractive for investors and issuers. The Second Market offers companies such as Emirates Stallion Group access to a significant pool of capital and opens the door to building brand equity in an influential arena. For investors, the platform provides a unique opportunity to take liquid positions in early- and mid-stage growth companies operating across an increasingly vibrant regional economic landscape,” said Saeed Hamad Al Dhaheri, Chief Executive Officer of ADX.