The Securities and Commodities Authority, SCA, has approved the incorporation of three firms as 100 percent government-owned public joint-stock companies.
The three companies, whose total capital amounts to AED4.6 billion, are: Abu Dhabi Distribution, at AED1 billion of capital, Abu Dhabi National Exhibition Company, ADNEC, at AED100 million, and the International Petroleum Investment Company, IPIC, at AED 3.5 billion.
SCA last year approved the rights issues of 5 PJSCs and sanctioned a capital increase for 6 other PJSCs at a total of AED2.5 billion, reducing the capital of two others not listed, according to data recently released by the authority.
SCA as well registered 10 auditing companies for PJSCs by the end of 2016.

Source: WAM