The listing of Palms Sports PJSC's shares begins today. On the second market platform of the Abu Dhabi Stock Exchange under the symbol PALMS.

According to the Emirates News Agency, the nominal capital of the company is 150 million dirhams, and the number of shares is 150 million shares, with a par value of 1 dirham. This represents the fifth listing on the Abu Dhabi Stock Exchange in 2020.

Palms Sports is a subsidiary of the International Holding Company and is based in the United Arab Emirates. It specializes in promoting sports activities for UAE citizens and is the leading provider of sports training programs in the country, with a special focus on jiu-jitsu, mixed martial arts and combat sports.

The value of the company's portfolio of assets reached 344.5 million dirhams at the end of September 2020, and more than 700 employees are employed by it.

Said Hamad Al Dhaheri, CEO of Abu Dhabi Securities Exchange - on this occasion -: We are happy to choose the International Holding Company, one of the largest companies in the region, to include Palms Sports. In the second market, which is a new confirmation of the market’s stability and reliability among the region’s major companies and confirms its position as a preferred destination for listing and reflects the levels of global competitiveness it provides to listed companies, by having an infrastructure with international standards for listing and trading various securities and gives investors an opportunity to invest their savings within an environment Legal that adopts international best practices in the field of disclosure and transparency within a stable economic and legislative environment ..

For his part, Fouad Fahmy Darwish, CEO of Palms Sports, said: Our company was founded to fulfill the vision of the United Arab Emirates towards inspiring and promoting a healthy lifestyle through various leisure opportunities. And high quality. This listing announcement is a consolidation of all the efforts that have been invested to reach the success we have achieved so far. Since the company was established in 2010, we have witnessed rapid growth to become Palms Sports the largest jiu-jitsu company in the world.

This step is in line with our aspirations for sustainable growth and long-term value for our stakeholders while contributing to the progress of the emirate ..

With the listing of Palms Sports, the number of companies listed on the second market platform rises to 7, and the number of securities listed on the Abu Dhabi Stock Exchange rises to 88. / p>

The second market is part of the existing infrastructure in the Abu Dhabi Stock Exchange to list the shares of private companies where ...