Listing gives company a share capital of AED 280mn
Abu Dhabi Securities Exchange (ADX) announced that Foodco National Foodstuff (Foodco), has listed its shares on the exchange’s Second Market under the trading symbol FNF. It is the first company to be listed on ADX this year.
Foodco, which imports and distributes food and consumer staples and provides logistics services, listed 280mn shares with a nominal value of AED 1 per share, giving the company a share capital of AED 280mn.
The retail and wholesale portfolio of Foodco National Foodstuff Company encompasses a wide range of essential commodities and products. Foodco trades and distributes other products, such as meat, poultry, frozen and canned vegetables, evaporated milk, powdered milk, drinks, high-quality tissues, aluminum foil and cleaning products.
Through a modern and diversified fleet of vehicles, warehouses, cold and air-conditioned stores, Foodco also provides domestic and international customs clearance, transportation, distribution and warehouse management services through its subsidiary 5PL Logistics Solutions L.L.C.
“ADX is committed to providing investors with attractive opportunities to invest in a wide range of companies that give exposure to the diverse and robust economy of the UAE,” observed Saeed Hamad Al Dhaheri, Chief Executive, ADX.
“The company’s logistics capabilities have also allowed us to participate in massive UAE government supply projects and Foodco has become the strategic partner of choice for governments and businesses throughout the region,” stated Ahmed Bin Ali Bin Khalfan Al Mutawa Al Dhaheri, Chairman, Foodco.