UAE Equity Research - Emirates Driving Company (EDC) - Initiation Coverage
We initiate coverage on Emirates Driving Company PJSC (“EDC”, “Drive” or “The Company”) with a Valuation of AED 4.10 per share. EDC is a leading provider of driver training services in Abu Dhabi, offering comprehensive education programs aligned with local traffic laws. The Company was established in 2000 and listed on ADX in 2005. EDC operates from three main branches alongside four satellite sites in Abu Dhabi and a subsidiary presence in Dubai by 2024.
