The market capitalization of the local bourse jumped 25 percent year-to-date to close to 2 trillion dirhams ($545 billion), bolstered by more than $5 billion in share offerings and listings over the past year, including Abu Dhabi Ports, Fertiglobe, ADNOC Drilling, Alpha Dhabi, and Multiply Group.
The Abu Dhabi Securities Exchange (ADX) has posted double-digit growth in its market cap following a series of international public offerings (IPOs) and listings by some large businesses in the UAE.
The Abu Dhabi Securities Exchange (ADX) has posted double-digit growth in its market cap following a series of international public offerings (IPOs) and listings by some large businesses in the UAE. In a statement on Monday, ADX said it is looking to further boost portfolio investment into the country’s capital markets by sending a delegation of 25 CEOs, CFOs, and other senior executives to the United Kingdom next week.
In a statement on Monday, ADX said it is looking to further boost portfolio investment into the country’s capital markets by sending a delegation of 25 CEOs, CFOs, and other senior executives to the United Kingdom next week. 1’ADX is a core component of the major transformation underway in the region, which is creating a vibrant, diversified and sustainable economy,” noted Al Dhaheri. “Access to long-term global capital is central to this ambition and it is therefore important that we continue to nurture relationships and informational flows with international investors.”
The representatives from Abu Dhabi-listed companies, including ADNOC Distribution, ADNOC Drilling, Abu Dhabi Islamic Bank (ADIB), Agthia, Aldar Properties, Al Yah Satellite Communications Company (Yahsat), Emirates Telecommunication Group Company (Etisalat), First Abu Dhabi Bank (FAB) and Fertiglobe, will meet with major institutional investors in London on June 9-10. Over the past 12 months, the bourse has made major achievements, including the launch of a derivatives market and exchange-traded funds. It has also introduced a regulatory framework for special purpose acquisition companies.
