Abu Dhabi Ports: No Immediate Plans for a Listing

Abu Dhabi Ports has no plans to launch a public sale of shares in the short term, the chief executive of the state-owned company told Reuters on Tuesday. "There are no immediate plans to go public," Mohamed Juma al Shamisi said when asked if the company planned to sell shares and a subsequent listing.

 

His comments came after Bloomberg News reported that Abu Dhabi Ports is considering an initial public offering, joining a growing list of state entities in the United Arab Emirates seeking to sell shares, citing people familiar with the matter.

 

Abu Dhabi Ports is the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate.

 

Last month it signed a 35-year concession to develop and manage the Port of Fujairah, located on the United Arab Emirates' east coast.


(Reporting by Stanley Carvalho; editing by Susan Thomas)