Mon Sep 30 21:58:10 UTC 2024: ## ADNH Catering to List on ADX, Offering 40% Stake to Public

**Dubai, UAE – October 7, 2024:** Leading food and support services provider ADNH Catering has announced its intention to list on the Abu Dhabi Securities Exchange (ADX) through an Initial Public Offering (IPO). The offering will see 40% of the company’s issued share capital, equivalent to 900 million ordinary shares, made available to investors.

ADNH Catering, established in 1979, has a significant presence in the UAE and Saudi Arabia. With a market share of approximately 28% in the UAE, the company boasts a diverse portfolio of clients across key sectors including healthcare, energy, defense, and education.

“Since 1979, ADNH Catering has been instrumental in the growth of the UAE’s hospitality industry, partnering with government and private sector clients,” said Khalaf Sultan Al Dhaheri, Chairman of ADNH Catering. “This IPO is a testament to our commitment to innovation and growth, offering investors a compelling opportunity to be part of a leading GCC platform.”

The IPO is expected to be conducted through a book building process, with the offer price determined following the process. The UAE retail offering is expected to run from October 7th to 14th, while the qualified investor offering will run from October 7th to 15th. Existing shareholders of ADNH Group will have preferential rights to purchase Reserved Shares.

The completion of the offering and listing on ADX is anticipated in October 2024, subject to market conditions and regulatory approvals. The offering is supported by Citigroup Global Markets Limited and First Abu Dhabi Bank PJSC as Joint Global Coordinators and Joint Bookrunners.

ADNH Catering’s strong financial performance, driven by its diverse client base and efficient operations, has positioned it for further growth. The company plans to expand its presence in Saudi Arabia and implement its strategy for continued diversification and market expansion.

“This IPO signifies a new chapter for ADNH Catering as we look to leverage our strong operational performance and market-leading position in the UAE to drive growth across the GCC,” commented Clive Cowley, Chief Executive Officer of ADNH Catering.

The company has outlined a dividend policy aimed at rewarding both existing and new shareholders. Following the IPO, ADNH Catering intends to pay a cash dividend of AED 60 million in April 2025. The company plans to progressively increase dividends in subsequent years, subject to its financial performance and market conditions.

The IPO prospectus and international offering memorandum will be available on the company’s website at https://ipo.adnhc.me.

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