Abu Dhabi National Hotels, established in 1976, owns several luxury hotels in Abu Dhabi, including the Ritz Carlton and Park Hyatt. Its shareholders include the sovereign wealth fund Mubadala and the UAE-based investment firm National Holding.
Khalaf Sultan Al Dhaheri, Chairman of ADNH Catering, announced plans to float a 40% equity stake in ADNH Catering on the Abu Dhabi Securities Exchange. He stated, “I am pleased to share our intention to pursue this offering. Since its inception in 1979, ADNH Catering has played a vital role in the growth of the UAE’s hospitality sector, collaborating with both government and private clients in food and support services. Our established track record, specialized expertise, and commitment to innovation have positioned us as a long-term partner of choice for leading institutions in the UAE and Saudi Arabia.”
He emphasized that this announcement is made possible by the company’s dedicated workforce and the support of its ambitious shareholder, Abu Dhabi National Hotels Company PJSC. With favorable market conditions and a clear growth strategy, Al Dhaheri believes ADNH Catering presents a compelling investment opportunity.
The catering division operates in both Saudi Arabia and the UAE, providing food and support services. Last year, it generated revenues of 1.8 billion dirhams ($490.12 million) with an operating profit margin of approximately 11%.
The UAE has recently experienced a surge in IPO activity as the government seeks to enhance capital markets and attract investment. According to LSEG data, 23 IPOs in the first half of this year raised $3.6 billion for companies across the Middle East and North Africa.
Notable new listings include Saudi healthcare provider Fakeeh Care Group, which raised $763.5 million, and UAE supermarket franchisee Spinneys. Additionally, hypermarket operator Lulu is expected to go public later this year.
Delivery Hero is also preparing to launch an IPO for its Emirati subsidiary, Talabat, on the Dubai stock exchange in the fourth quarter. Meanwhile, Etihad Airways is working towards an IPO, although CEO Antonoaldo Neves indicated that the decision rests with shareholder ADQ, and the airline may not debut on the stock market until 2025. This would mark a significant milestone as it could be the first IPO of a major Gulf airline, aligning with the UAE’s ambitions to become a global travel hub.
