The shares of Abu Dhabi National Energy Company (TAQA), listed on the Abu Dhabi Securities Exchange, jumped 2.3% at the start of trading on Monday, reaching 2.7 dirhams, with a liquidity of 8.08 million dirhams.
This performance of the company's stock came after it announced this morning the new corporate identity of its group of companies.
The company also announced in a disclosure to the stock exchange that Abu Dhabi Distribution Company and Al Ain Distribution Company will merge under the umbrella of a new unified company that will provide its services to customers throughout the Emirate of Abu Dhabi under the new corporate identity of Taqa Distribution.
She explained that this step contributes to expanding the scope of its business aimed at serving customers directly, and will enable it to further develop its services provided to them, develop new products and services, and seek opportunities to achieve further growth within the UAE and globally.
She pointed out that TAQA Distribution Company will play a major role in achieving its ambition to become a leading low-carbon utility company, enhance efficiency in its operations, operate and develop distribution networks according to international standards, and work seamlessly with sister companies TAQA Transmission Networks, TAQA Water Solutions, and TAQA Services.
TAQA expects that the new corporate identity of its companies will contribute to increasing awareness and further defining its utilities business and expanding the scope and spread of these businesses, which will support the next phase of its growth ambitions and enhance its position.
