SHARJAH, 1 December 2005 — Dana Gas, a major new private sector regional gas company, has announced that it will list its shares on the Abu Dhabi Stock Market (ADSM) on Dec. 6. Following the completion of the necessary incorporation and registration procedures, Dana Gas will now be amongst the 57 listed companies on the Abu Dhabi Stock Market.
Dana Gas is the first private-sector gas resource company in the region to be publicly listed and is incorporated as a public joint stock company in the United Arab Emirates. The company’s IPO closed on Oct. 3 and was heavily oversubscribed, raising 288 billion dirhams from some 425,000 investors from across the Gulf region and over 100 nationalities worldwide.
The board of directors, from all countries of the GCC, held their inaugural meeting in Sharjah on Tuesday.
Dana Gas Chairman Hamid Dhiya Jafar, said: “We are delighted to be listing on the ADSM, and joining the growing number of prominent industrial companies and especially those from the energy sector, which makes it a natural home for listing the company’s shares. While adding tangible value to our existing shareholders, the listing of Dana Gas in Abu Dhabi’s growing financial market will provide excellent opportunities for investors and new prospective shareholders, as the company pursues its growth plans and opportunities in the promising natural gas sector throughout the region.”
He added: “Going forward, we also aim in the future to list the shares of Dana Gas on other prominent exchanges within the region in order to reflect the truly regional nature of the company and its shareholder base.”
