Agility Global Gears Up for Abu Dhabi Exchange Debut

Kuwaiti logistics giant Agility is set to expand its trading presence with the upcoming listing of its operations and asset management unit, Agility Global, on the Abu Dhabi Securities Exchange (ADX) starting May 2nd. This move signifies Agility's commitment to regional growth and diversification.

The listing will see Agility Global trade under the symbol "AGILITY" and the International Securities Identification Number (ISIN) AEE01376A248. The company will be classified under the Industrials sector on the ADX. Notably, during the first three trading days, Agility Global's share price will be exempt from the exchange's usual daily fluctuation limits of 15% upward and 10% downward, allowing for a more organic price discovery process.

This development comes on the heels of a significant in-kind dividend distribution approved by Agility's parent board. The distribution consists of 800 million Kuwaiti dinars (approximately $2.6 billion) worth of shares, representing a 49% stake in Agility Global. Following this distribution, Agility, which is already dually listed on the Dubai Financial Market (DFM) and the Bourse Kuwait, will retain a controlling 51% stake in its subsidiary. Additionally, Agility will continue to consolidate Agility Global's financial statements.

The ADX listing presents a strategic opportunity for Agility Global to tap into the vast investor base of the Abu Dhabi market. The exchange is known for its robust regulations, transparency, and increasing liquidity, attracting significant international investment. This wider reach is expected to bolster Agility Global's growth prospects and enhance its profile among regional and global investors.

Analysts anticipate that the listing will generate considerable interest among investors seeking exposure to the burgeoning logistics sector. Agility, a well-established player in the region, boasts a proven track record and a comprehensive network across the Middle East and Africa. The company's expertise in supply chain solutions, freight forwarding, and integrated logistics positions Agility Global to capitalize on the increasing demand for efficient and reliable logistics services within the region's thriving economies.

The expansion onto the ADX is a testament to Agility's continuous efforts to solidify its position as a leading logistics provider in the Middle East. By leveraging the strengths of both the established Kuwaiti company and the dynamic Abu Dhabi market, Agility Global is poised to embark on a new chapter of growth and regional prominence.

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