Wednesday , January 20 2021

ADX lists Foodco on its Second Market


Abu Dhabi Securities Exchange (ADX) has announced that Foodco National Foodstuff has listed its shares on the exchange’s Second Market under the trading symbol FNF. It is the first company to be listed on ADX this year.
Foodco, which imports and distributes food and consumer staples and provides logistics services, listed 280 million shares with a nominal value of AED1 per share, giving the company a share capital of AED280 million. The listing brings the total number of securities on the exchange to 89.
The retail and wholesale portfolio of Foodco National Foodstuff Company encompasses a wide range of
essential commodities and products, which are marketed through company’s brands.
As of September 2020, Foodco had a cash flow balance of AED7.352 million. Foodco Holding is the majority shareholder of Foodco, controlling 98.75%, or 276.5 million of its shares.

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