ADX lists Zee Stores on Second Market

Abu Dhabi Securities Exchange (ADX) announced that Zee Stores, has listed its shares on ADX’s Second Market under the ticker symbol ZS, and trading begins on the shares today.

The company’s nominal value of share capital is Dh100 million, with each share having a nominal value of Dh 1. This is the third listing to take place on ADX’s Second Market in 2020.

Zee Stores was founded in 2002 and currently operates as a retail subsidiary under the International Holding Company (IHC) Abu Dhabi. The company specialises in trading food and non-food products, including importing, re-packaging, wrapping, storing, and distributing dry, canned, chilled, frozen, processed and fresh food products; household items, stationery, disposables and cosmetics; and chemicals and other allied on- and off-shore oil and gas field services. Zee Stores has assets of Dh189 million as at the end of September 2020 and its annual turnover is around Dh300 million.

Saeed Hamad Al Dhaheri, chief executive of Abu Dhabi Securities Exchange, said: “We are delighted to welcome Zee Stores to the growing list of companies being listed on the exchange. We always strive to encourage more companies to list their shares on the Second Market. Listing on the exchange provides the opportunity for companies to further expand their business. It also offers investors more opportunities to diversify their investments, which will enhance stability on the market and attract more institutional investments.”