Abu Dhabi investments include 50 local and international companies..Details
Abu Dhabi Investment Forum is a vital platform to attract global investors to the Emirate of Abu Dhabi, as the forum shares with the Abu Dhabi Investment Office the vision aimed at optimal investment in order to promote economic growth and find effective solutions to the most important challenges facing the world.
Shrouq
The Egyptian Stock Exchange announced the acquisition of the shares of the Paints and Chemical Industries Company (Pachin) by the Emirati Dyes Company.
National Paints Holding Company
The stock exchange said that the compulsory purchase offer submitted by the National Paints Holding Company Limited was implemented on the issued shares of Pachin, for about 19.36 million shares, at 39.80 pounds (equivalent to 1.29 dollars) per share.
Thus, the value of the paints acquisition of Pachin is about 770.46 million pounds (equivalent to 25.01 million dollars).
Aldar Properties'
In a related context, the data of the Abu Dhabi Securities Market showed, today, Wednesday, May 10, 2023, the implementation of a major deal on the shares of Aldar Properties.
The deal was executed on about 52.7 million shares of Aldar Properties, at a value of approximately 286.8 million dirhams (equivalent to $78.1 million).
During the first quarter of this year, Aldar Properties' net profit increased by 22% year on year, to record approximately $227.7 million, amid revenue growth of about 14% compared to the first quarter of 2022.
Abu Dhabi Investment
Haitham Al-Subaihi, Acting Executive Director of Business Development and Promotion at the Abu Dhabi Investment Office, said that the Emirate of Abu Dhabi is one of the best places in the world in terms of ease of doing business.
Al-Subaihi said, in statements on the sidelines of the Annual Investment Forum 2023, yesterday, Wednesday, May 10, 2023, that the office's innovation program has so far succeeded in providing financial and non-financial support to nearly 50 local and international companies qualified to develop and expand their business in Abu Dhabi.
Global economy
He pointed out that the Abu Dhabi Investment Forum is a vital platform to attract global investors to the Emirate of Abu Dhabi, as the forum shares with the Abu Dhabi Investment Office the vision aimed at optimal investment in order to promote economic growth and find effective solutions to the most important challenges facing the world.
He explained that the organization of the forum comes during a pivotal stage for the global economy. He added that the Emirate of Abu Dhabi is making great efforts to move to a competitive, knowledge-based economy, in line with the leadership's long-term vision for the development and diversification of the national economy.
