ADX announces listing of Wahat al Zaweya Holding shares on its Second Market

Anas Atatreh: “We are delighted to be a part of ADX, this listing falls in line with the Company's continued growth since its foundation, and with its well-focused and diversified investments specially the Real Estate development sector”

Abu Dhabi: Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, has announced that Wahat al Zaweya Holding PJSC has listed its shares on the second market, under the symbol “WAZ”. Trading of Wahat al Zaweya Holding’s shares officially started on Wednesday, July 18^th of the current year.

The Company's share capital is AED 2.3 Billion, with 2.3 billion shares at par value of AED 1.00 per share. Wahat Al Zaweya Holding is considered as one of the leading holding companies in the emirate of Abu Dhabi. The main activities of the Company are focused on areas of development and marketing of Real Estate and in a variety of sectors including Residential, Commercial, Tourism and Hospitality amongst others. Since its establishment, the Company is contributing effectively to the sustainable developments in the region, and in creating value addition by its investments and development of many unique real estate projects.

HE Khalifa Bin Salem Al Mansouri, Vice Chairman of ADX, said: "ADX is keen to attract more companies for listing on the primary and the second markets, in support of the Abu Dhabi Plan's commitment to developing the investment climate of the Emirate and creating a flexible and competitive environment for business. Al Mansouri added: “ADX has a world-class infrastructure for the listing and trading of diversified stocks, it provides investors with the opportunity to invest their savings in a legal environment that adopts the best international practices in disclosure and transparency, within a stable economic and regulatory environment.”

In turn, Mr. Rashed Al Blooshi, Chief Executive of ADX, welcomed the commencement of trading of Wahat al Zaweya Holding Company shares on ADX’s second market, which consider a new proof of the stability of the Abu Dhabi market and its credibility among the major companies in the region. Al Blooshi said: “Listing the shares of Wahat al Zaweya Holding Company on ADX’s second market confirms the market's position as a preferred listing destination and reflects the high levels of international competitiveness it offers to the listed companies.”

Al Blooshi added: “The stable trading environment, in conjunction with the innovative services and products offered by ADX which attracted new institutional investments to the market whereas net institutional investment in the market during first half of 2018 reached AED 950 Million comparing to nearly AED 908 Million during the same period of the year 2017. Furthermore, the number of institutional investors registered on the Exchange by the end of first half of the year 2018 reached to 7920 of which 5913 are foreign institutions thus representing 75% of the investment institutions registered on the Exchange.

In addition, the number of foreign institutional investors who entered the Exchange during the first half of year 2018 reached to 230 institutions comparing with 209 foreign institutions during the same period of year 2017, representing an increase of nearly 10%.

In addition to this, ADX is working on developing and launching strategic initiatives aimed at increasing the market value and the products, to attract and activate a larger group of investors. These results in general emphasize the market dependence on the best practices in the field of investment in financial securities, and in the field of the disclosure, transparency and corporate governance.

Mr. Anas Atatreh - Vice Chairman of the Wahat Al Zaweya said that “listing the shares of the Company on ADX is coming in-line with the strategy of the Company in achieving the continuous growth, and to diversify its investments headed by real estate development projects, and its keenness to expand the Company’s business and sustainability. This listing also reflects the Company’s commitment to transparency which forms one of the most important values of the Company.

Mr. Khaldoun Mohammad Saleh - Chief Executive officer of Wahat Al Zaweya said that “This is a Milestone, as we aspire it to be a bridge to further development and achieving the best for all customers and the shareholders of the Wahat al Zaweya. We are working towards achieving the optimal balance between the Company's growth and its return on investments by focusing on different profitable real estate projects. Utilizing our unparalleled expertise, innovative processes and bespoke approach ensures we deliver a sustainable and positive impact in the communities in which we operate.”

He also added that since its establishment, Wahat al Zaweya has sought to contribute to the real estate development and growth of the Emirate of Abu Dhabi, by adopting an effective strategy, partaking in distinguished and unique projects in the field of real estate development and other various areas of investments which will increase returns from sustainable sources to shareholders' investments in the company. Mr. Khaldoun mentioned that there are many projects to be announced in the near future in the cities of Abu Dhabi and Al Ain which will further leads to increase in growth of the Company.

Mr. Motasem Bellah Al Ahmad - Chief Financial Officer said that “The Company’s total assets as per the Condensed, consolidated and reviewed financial statement aggregated to AED 5.8 Billion for the period ended 31^st May 2018 and the interim net profits exceeds AED 100 Million for the same period of the five months”.

He also added that sustaining the excellent results and developing it further will remain the ultimate goal of the management of the Company in order to benefit the shareholders, the customers as well as the community.

Further, The Shareholders of Wahat Al Zaweya Company resolved on April 2018 that they accepted the listing of the company’s shares in ADX during the year of 2018.

Abu Dhabi Securities Exchange (ADX) opened its second market in 2014 as per the guidance of his highness Shaikh Mohammed bin Rashid Al Maktoum The Vice President and Prime Minister of the United Arab Emirates, and The Ruler of Dubai. In a step toward support the building of a sustained and integrated economy with complementary among all sectors. Wahat Al Zaweya Company considered the fourth company listed in the second market which currently has three companies.

Worth mentioning that Abu Dhabi Securities Exchange is offering integrated services for market makers and liquidity providers, and has launched the service of technical short selling and the lending and borrowing of shares, also the market makse use of the blockchain technology in the process of electronic voting in listed companies annual general meetings. ADX has launched recently a package of electronic services to meet the requirements of disclosure and transparency, and to insure delivering the information to shareholders and investors directly and in quick time within organised scope of governance controls in order to meet the requirements of the listed companies, shareholders and the financial analysts.

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About Abu Dhabi Securities Exchange (ADX)

Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions.

ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA).

In 2014, ADX was upgraded to ‘Emerging Market’ status by both MSCI and S&P Dow Jones. ADX was already classified as an Emerging Market by FTSE in 2009 and in 2011 by S&P and Russell Investments.

For more information, please contact:

Abdulrahman Saleh ALKhateeb

Manager of Corporate Communication & Digital Marketing

Marketing & Corporate Communication Department

Tel: 00971 (2) 6128774

Mobile: 00971 (50) 6689733

Email: ALKhateebA@adx.ae

© Press Release 2018