Abu Dhabi - Mubasher: The shares of Al Seer Marine Supplies & Equipment begun on Sunday their listing and trading on the Secondary Market of the Abu Dhabi Securities Exchange (ADX).
With listing Al Seer Marine Supplies, the total number of listed companies on ADX's Secondary Market has increased to 12.
Established in 2003 in Abu Dhabi, the company, which is currently part of International Holding Company (IHC), is a marine company offering services relating to maintenance, supply and logistics, yacht management, operations, and construction.
The company is the sixth IHC's company to list on the ADX, following the listings of Palm Sports, Easylease, Zee Stores, and Emirates Stallion Group on the Second Market and AlphaDhabi on the Primary Market.
The Chairman of Al Seer Marine, Riyadh Al-Kindi, said: "Al Seer has identified the continued demand for cleaner fuel-burning sources in emerging markets and the need for greater infrastructure as an area of tremendous long-term growth and is rapidly expanding this area of our business."
Meanwhile, the Chairman of ADX, Mohammed Ali Al Shorafa Al Hammadi, commented: "There is no doubt this listing will bring additional diversification. This year, the ADX has seen a significant increase in liquidity, with the combined market capitalization on the mainboard and the Second Market passing through the AED 1 trillion level."
