Zee Stores PJSC (ADX:ZS) (Ghitha) will look for acquisitions. The holding company will add a number of related businesses to its existing portfolio, through future acquisitions and subsidiaries' formation, which will enhance its core capabilities in wholesale importing and trading fresh and canned foods; packaging; and providing food services to industrial sites such as gas and oil fields. Its ticker symbol will then change to GHITHA from ZS.

he new strategic direction will enable Ghitha Holding to become one of the largest and most important players in the regional food trading sector. Mohammed Somar Ajalyaqin, Chairman of Ghitha Holding, said: “With the UAE's National Food Security Strategy aiming to make the Emirates the world's most food-secure nation by 2051, expanding operations in food and agriculture presents an ideal opportunity to deliver shareholder value through commercial success while supporting the national development agenda. “This transformation of Zee Stores into Ghitha Holding represents the next stage in the company's journey, and through our growing operations we will continue to play an even greater role in this sector”.