(Bloomberg) -- Sovereign wealth fund ADQ is seeking to raise as much as $1.1 billion by selling shares in Abu Dhabi Ports, according to people familiar with the matter.
The listing on Abu Dhabi Securities Exchange is expected to comprise a sale of 1.25 billion shares at 3.20 dirhams ($0.87) each, the people said, declining to be identified as the matter is private. ADQ is currently planning for a listing on Feb. 8, subject to approvals.
Established in 2006, Abu Dhabi Ports contributes an estimated 13.6% to Abu Dhabi’s non-oil economic growth, according to the company’s website.
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