ABU DHABI: The Abu Dhabi Securities Exchange (ADX) announced the listing of ADNH Catering plc, a prominent provider of food and support services in the UAE, marking a significant milestone in the company's growth trajectory. The successful initial public offering (IPO) raised AED864 million (US$235 million) from the sale of 900 million shares, representing 40 percent of the company's total issued share capital. According to Emirates News Agency, the IPO attracted robust demand from both international and regional investors, with the offering being oversubscribed more than 15 times and drawing over AED13 billion in demand. The final offer price was set at AED0.96 per share, the top of the announced price range, highlighting the strong investor confidence in ADNH Catering's market leadership in critical sectors such as healthcare, education, defense, and business and industry across the region. The listing underscores ADNH Catering's established market position, supported by its extensive operations in the UA E and Saudi Arabia. As of June 2024, the company managed approximately 160 on-site kitchens and delivered around 11 million meals monthly, servicing 262 clients over the past year. With plans to expand further into Riyadh, Jeddah, and the Eastern region of Saudi Arabia, ADNH Catering is poised for continued growth. Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, commented on the listing, stating that ADNH Catering's entry into the Abu Dhabi capital market brings substantial value to the economy, offering investors access to a dynamic industry with significant growth potential. As the food and beverage sector in the UAE and the region continues to expand, ADNH Catering is well-positioned to meet increasing demand and achieve its growth objectives. The parent company, Abu Dhabi National Hotels, has been listed on ADX since January 2001 and has seen a market capitalisation growth of 360 percent up to the end of the third quarter of 2024. Clive Cowley, Chief Executive Officer of ADNH Catering, exp ressed gratitude for the investor support and emphasized the company's commitment to delivering long-term value for stakeholders, focusing on expansion and innovation in the catering and support services sector.