The Abu Dhabi Securities Exchange (ADX) has collaborated with J.P. Morgan to successfully complete an Exchange-led roadshow in New York, showcasing the strong international demand for Abu Dhabi listed companies.
The two-day roadshow was attended by prominent institutional investors in the United States and featured senior representatives from the Exchange and J.P. Morgan, as well as 20 ADX-listed blue-chip companies with a combined market capitalization of more than AED 1T. The event focused on investment opportunities in the UAE’s capital markets, following the robust performance of the exchange’s equity benchmarks in the previous year, and was well-received by attendees.
Over 60 CEOs, CFOs, and senior management from institutional investors across the US, representing a total of $5T in assets under management (AUM), attended the event. The ADX delegation included senior representatives from more than 50 companies listed in Abu Dhabi, providing them with a unique opportunity to showcase their equity stories and business performance, according to WAM.
These companies included Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Abu Dhabi Ports, ADNOC Distribution, ADNOC Drilling, ADNOC Gas, Agthia Group, Al Yah Satellite Communications Company, Aldar, Bayanat, Borouge, Burjeel Holdings, Commercial Bank International, Dana Gas, Emirates Steel Arkan, First Abu Dhabi Bank, Presight AI, Rak Properties, TAQA, and Emirates driving company. The roadshow in New York is part of ADX’s strategic plan to attract more international investors to the Exchange and follows the successful ADX roadshow in London in 2022.
Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, said: “Our successful roadshow to New York firmly demonstrates that the UAE’s robust macroeconomic fundamentals, strong corporate performance and accelerating capital markets activity are making it an increasingly attractive location for international institutional investors. ADX will continue to support the growth story of the UAE, and its vibrant and diversified economy, by accelerating the listing pipeline and bringing new innovative products to the market. Access to long-term global capital is essential to the UAE’s sustainable long-term growth and we will continue to explore opportunities that will enhance market liquidity and attract a greater range of investors to our dynamic marketplace.”
At the roadshow, Abu Dhabi Securities Exchange and senior management from the listed companies participated in over 200 one-on-one meetings with investors. They emphasized ADX’s dynamic vision for growth and successful strategy for increasing liquidity and market capitalization.
ADX and J.P. Morgan’s senior management also took part in two panel discussions on Abu Dhabi’s Capital Market Roadmap and energy paradigm. Additionally, there was a fireside chat with JPMorgan Chase & Co.’s President, Daniel Pinto, who discussed the latest trends in the global capital markets industry.
During the roadshow, it was noted that ADX has been experiencing significant activity, with increased participation from international and institutional investors in IPOs, listings, and new product launches. In the previous year, more than 25 securities were listed on ADX, including five IPOs that garnered significant global demand and raised over $5.4B.
The recent listings of ADNOC Gas and Presight AI have once again placed ADX at the forefront of the MENA IPO market in 2023. In 2022, net foreign investment on ADX grew by 54.1% year on year, amounting to AED 23.5B, with foreign holdings increasing by 92% during the same period. Investors from the MENA region led foreign investment on ADX with a 44% share, followed by Europe & the UK (31%), the Americas (15%), and Asia (10%).
