Bloomberg: ADQ expects to raise $ 1.1 billion from the sale of a stake in Abu Dhabi Ports

The ADQ equity fund aims to raise $ 1.1 billion by offering a stake in Abu Dhabi Ports Group for subscription in the Abu Dhabi market, according to the Bloomberg agency.

The fund will sell approximately 1.25 billion shares of the group at a price of 3.2 dirhams per share, provided that the share is offered on the Abu Dhabi market on February 8th.

Interestingly, Abu Dhabi Ports was founded in 2006 and contributes over 13% to the non-oil economy of the Emirate of Abu Dhabi.