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ADX lists Foodco National Foodstuff on second market

ADX lists Foodco National Foodstuff on second market
Foodco listed 280 million shares on ADX
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Abu Dhabi - Mubasher: Foodco National Foodstuff, a subsidiary of Foodco Holding, has listed its shares on the second market of the Abu Dhabi Securities Exchange (ADX) under the trading symbol FNF.

Foodco National Foodstuff is the first company to be listed on ADX in 2021, bringing the total number of securities on the exchange to 89, according to a press release on Wednesday.

Foodco, importing and distributing food and consumer stapleslisted 280 million shares with a nominal value of AED 1 per share, giving the company a share capital of AED 280 million.

The company's retail and wholesale portfolio includes basmati rice and Egyptian rice sold under the Shahrazad, Mubarak, and Al-Safwa brands, in addition to pasta, oils, canned foods, meat, and poultry.

In addition, the company also offers domestic and international customs clearance, transportation, distribution, and warehouse management services through its subsidiary 5PL Logistics Solutions.

The Chief Executive of ADX, Saeed Hamad Al Dhaheri, said: "ADX is a vibrant and dynamic exchange that offers companies a conduit to debt and equity capital markets to fund their growth plans."

Meanwhile, the Chairman of Foodco Holding, Ahmed bin Ali bin Khalfan Al Mutawa Al Dhaheri, commented: "Listing of our company's shares on ADX is an important and crucial step in supporting the business’s long-term growth, especially after successfully diversifying its activities in logistics and investment since the parent company was established."