UAE.. Abu Dhabi Ship Building shares rise to the highest price since its listing

Abu Dhabi Ship Building’s shares, listed and traded on the Abu Dhabi Stock Exchange, rose by 11.06% at the end of Wednesday’s session to close at 6.43 dirhams per share.

Abu Dhabi Ship Building shares were traded at the end of today’s session with a volume of 5.38 million shares, with a trading value of 34.56 million dirhams.

The highest share price at that time was 6.93 dirhams per share, while the lowest share price was 6 dirhams per share.

The stock thus touched its highest price since listing.

It is noteworthy that the company achieved a growth in its profits during the first 9 months of the year 2024 by 73.07 percent on an annual basis, to record 40.5 million dirhams, compared to its profits amounting to 23.4 million dirhams during the 9 months of the fiscal year 2023.

Abu Dhabi Shipbuilding Company is a leading Emirati company in the field of building military and commercial ships, and provides various services including construction, maintenance, repair, and re-equipment of ships, and is considered one of the most advanced shipyards in the region thanks to its experience exceeding 25 years.

In the last quarter of fiscal year 2024, the company launched the first Falaj 3-class ship, a major achievement that represents a pivotal step in enhancing national defense capabilities. This launch is part of the strategic program that the company concludes with the Ministry of Defense to provide advanced ships equipped with the latest mission and armament systems.

Abu Dhabi Ship Building’s shares, listed and traded on the Abu Dhabi Stock Exchange, rose by 11.06% at the end of Wednesday’s session to close at 6.43 dirhams per share.

Abu Dhabi Ship Building shares were traded at the end of today’s session with a volume of 5.38 million shares, with a trading value of 34.56 million dirhams.