UAE - Mubasher: Abu Dhabi Developmental Holding Company (ADDH) has announced its new identity, ADQ, according to a press release on Tuesday.
ADQ has added 14 new companies to its portfolio, raising the total number of its companies to more than 25 in different 11 sectors, including the General Holding Corporation PJSC (Senaat), Dubai Cables Company, and Arkan Building Materials.
The Abu Dhabi Securities Exchange (ADX), Image Nation, and shares in the National Marine Dredging Company, and Emirates Driving Company were also transferred to the holding company.
Moreover, the executive council has issued a resolution to convert Abu Dhabi government's shares and equity in some companies to ADQ.
Commenting on the new identity, the CEO of ADQ, Mohamed Hassan Alsuwaidi, said: “ADQ brings together some of Abu Dhabi’s most dynamic and ambitious enterprises, so that we may act as a national champion on behalf of the government to maximise the performance and value creation by each of our portfolio companies, as well as their long-term impact on our society.”