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ABU DHABI / WAM
Abu Dhabi Securities Exchange (ADX) announced that Palms Sports PJSC has listed its shares on ADX’s Second Market under the trading symbol PALMS, and trading begins on the shares on Monday. The company’s nominal value of share capital is AED 150 million, with each share having a nominal value of AED 1. This is the fifth listing on ADX in 2020.
Palms Sports, a subsidiary of the International Holding Company (IHC), is a UAE-based company that promotes sporting activities to UAE nationals and the community in general. Palms Sports is the leading provider for sports training programmes in the UAE, and attains a competitive advantage with regards to Jiu-Jitsu, mixed martial arts, and combat sports.
On this occasion, Saeed Hamad Al Dhaheri, Chief Executive of ADX, said, “We are delighted that the International Holding Company has listed one of its subsidiaries on our Second Market.â€