Abu Dhabi Aviation (ADA) is to open its trading of shares to foreign investment at a rate of 30 percent of its capital.
The announcement was revealed by Emirates News Agency (WAM) and comes following a resolution taken during the company’s General Assembly meeting on October 13 last year and the necessary approvals processes by the relevant regulation agencies, including the Securities and Commodities Authority, and the Department of Economic Development in Abu Dhabi.
ADA provides aviation offshore oil support and other services worldwide and in particular for Abu Dhabi’s oil and gas production companies.
It is the largest commercial helicopter operator in the Middle East and currently operates a fleet of 61 aircraft, including 57 helicopters.
In its most recent financial results, for the nine-month period up to September 2019, the company posted a profit of AED223,903 ($61m), up from AED206,882 ($56m) from the corresponding period in 2018.
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