Abdullah Salem Al Nuaimi, CEO of the Abu Dhabi Securities Exchange (ADX), has announced expectations for a new listing on the exchange before the end of 2024. The ADX has seen notable momentum, with Lulu Retail marking its ninth public offering of the year and the exchange’s 24th listing in 2024. This series of IPOs underscores strong investor confidence in ADX’s market platform, a hub for companies seeking growth both domestically and internationally.
Al Nuaimi highlighted that ADX hosted four initial public offerings (IPOs) in 2024, including high-profile companies such as Alef Education, NMDC Energy, and ADNH Catering. These public offerings attracted record-breaking capital inflows, generating approximately Dh12.3 billion amid requests valued at Dh310 billion. The combined market capitalization of the newly listed firms reached around Dh46.7 billion, further reflecting Abu Dhabi’s strategic focus on economic resilience and growth in major enterprises.
“The listings this year have positioned ADX among the world’s leading exchanges in terms of funds raised via IPOs,” said Al Nuaimi. “We’ve managed to secure three of the world’s top 20 IPOs last year, strengthening our global reputation.”
The exchange’s development strategy is reflected in recent offerings beyond traditional IPOs. Al Nuaimi pointed out that ADX also focused on exchange-traded funds (ETFs) in 2024, with the “Chimera Standard & Poor’s Germany Justus ETF” marking the fifth ETF listing this year, bringing ADX’s total to fifteen ETFs. This diversification aligns with the market’s strategic intent to attract a broader spectrum of investors by enhancing liquidity, flexibility, and innovation.
The CEO underscored that ADX’s strategic role in advancing the emirate’s economic diversification plan has solidified its status as a key player in the MENA region for trading volume and value. The exchange has sought to deepen its offerings by supporting dual listings and exploring collaborations through its “Tabadul” platform. Recent agreements, including a new partnership with the Armenian Stock Exchange, exemplify ADX’s ambitions to broaden its international reach, facilitating cross-border investments and increasing global market accessibility.
To further enrich investor options, ADX intends to launch new financial derivatives products in the coming year. This expansion is designed to complement the market’s overarching plans for new listings and ETFs, underscoring ADX’s drive to enhance its market ecosystem and meet evolving investor demands.
