Abu Dhabi Multiply Group shares recover slightly after plunging in early trade

Stock began trading following a direct listing

  
An investor monitors a stock exchange information screen at the ADX Abu Dhabi Securities Exchange stock market

An investor monitors a stock exchange information screen at the ADX Abu Dhabi Securities Exchange stock market

REUTERS/Stringer

Shares of Multiply Group, a subsidiary of International Holding Company (IHC) that listed on Abu Dhabi Securities Exchange (ADX) on Sunday, recovered slightly after plunging in early trade.

At 1:00 pm local time, the share was trading at 1.92 dirhams, recovering from the 30 percent drop in early trade. The share listed at 1.11 dirhams per share.

The Abu Dhabi-based tech-focused holding company with assets of over $2.2 billion, has investments in automotive, utilities, capital, wellness and communications industries. It began debut trading on Sunday following a direct listing.

(Writing by Brinda Darasha; editing by Seban Scaria) 

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