Dubai: PWC Logistics, one of the leading global providers of integrated supply chain solutions, announced today that its shares are now listed for trading under the ticker symbol “WARE” on the Dubai Financial Market. The company is also traded under the same ticker symbol on the Kuwait Stock Exchange and is included in the Dow Jones DIFC Arabia Titans 50 Index.
Tarek Sultan, PWC Logistics’ Chairman and Managing Director, was on the floor of the exchange to ring the bell marking the opening of the day’s trading session. Mr. Sultan welcomed the gathering by saying: “We’re very pleased to be listed on the Dubai Financial Market. Having our shares traded on the DFM will provide our investors with greater access to the company’s shares as well as increased share liquidity. Furthermore, PWC Logistics has a high degree of confidence in the political, economic, and regulatory environment of the United Arab Emirates and listing on the DFM will be good for our shareholders.”
PWC Logistics’ core services include warehousing, transportation and freight management. Globally, the company has over 17,000 employees in more than 450 offices located in over one-hundred countries spread across six continents. Throughout the Middle East, PWC Logistics manages approximately 12 million square meters of real estate and operates 600 thousand square meters of warehouse space and over 3,000 trucks.
PWC Logistics’ mission is to facilitate trade through innovative supply chain solutions. With a wide range of products and services it focuses on staying ahead of the competition in local markets while seamlessly working across a global network. Recent acquisitions, including GeoLogistics, TransOceanic Shipping and the Trans-Link Group have transformed the company from a regional to a truly global leader.
In the first three quarters of 2005, the company reported total operating revenues of USD 829 million and net profit of USD 382 million. PWC Logistics’ reported total current assents of USD 1.6 billion and total assets of USD 3.4 billion.