(MENAFN - Khaleej Times) After a slack period of 11 months, Stocks of Green Crescent Insurance Company will be traded today on the Abu Dhabi Securities Exchange.The listing takes the total number of companies in the insurance sector to 15 on a bourse which has total 66 listed companies.
Tom Healy, CEO of Abu Dhabi Securities Exchange, also known as ADX, welcomed the new entrant on the market, whose successful public offer generated positive sentiments on Abu Dhabi's capital market.
Carl J. Sardegna, CEO of the Abu Dhabi based company said that listing on ADX is being done at a time when health insurance sector is experiencing dramatic growth.
"The money raised through initial public offer will be used to expand the company to becoming the quality provider of health insurance in the region," he said.
Green Crescent was established in 2008 and is the first dedicated health insurance company in the private sector.
According to a statement, the company plans to change the way people have been viewing health insurance, by focusing on creating awareness for disease prevention.