ADNH Catering, a leading food and support services provider in the UAE, saw its shares hold steady shortly after listing on the Abu Dhabi Securities Exchange on Wednesday. Trading within a 1% range during the first hour, the company’s shares were at Dh0.961 per share by 9:10 AM UAE time, just above its final IPO offer price of Dh0.96. Earlier this month, ADNH Catering raised Dh864 million through its IPO, pricing at the top of its announced range.

The company sold 900 million shares, representing 40% of its total issued share capital, giving it a market capitalization of Dh2.16 billion at the time of listing. Meanwhile, the Abu Dhabi Securities Exchange opened slightly lower, dipping 0.026% to 9,243.98 points in early trading. CEO Clive Cowley reaffirmed the company’s commitment to expanding in the UAE and Saudi markets while maintaining a focus on innovation. He also emphasized the company’s plans to deliver on its attractive dividend policy and growth strategy.