ADNOC Distribution’s market cap surged to 44bn dirhams by end of September

ADNOC Distribution’s market cap surged to 44bn dirhams by end of September

ABU DHABI — ADNOC Distribution's market cap surged to 44 billion dirhams (SR44 billion) by the end of September 2020, a 40 percent up compared to its market value on its date of listing back in 2017.

The increase in the market capitalization comes after a significant rise of 23.15 percent in the value of the company's share to 3.57 dirhams from 2.90 dirhams on the date of listing, according to the data released by the Abu Dhabi Securities Exchange (ADX), where the company's equities are traded.

As the company's positive performance persists, the shareholders continue