Abu Dhabi Securities Exchange (ADX), one of the Middle East’s fastest-growing securities exchanges, has completed an Exchange-led roadshow in New York in collaboration with J.P. Morgan, reinforcing the robust international demand for Abu Dhabi-listed companies.
The promotional tour in New York City drew the attention of several major investment institutions in the United States. The event was attended by senior officials from the Abu Dhabi Stock Exchange, JP Morgan, and 20 major companies listed on the market, with a combined market value exceeding one trillion dirhams.
Read more: ADX Increasing engagement with global institutional investors
During the two-day event, over 60 chief executives, financial directors, and senior executive leaders from investment institutions across the United States attended, collectively managing assets worth $5 trillion. The event showcased the promising investment opportunities offered by the financial markets in the UAE, following the strong performance of the main reference indices for the listed stocks in the market over the past year.
Robust macroeconomic fundamentals
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.”
During the roadshow, ADX and the senior management of the listed companies participated in more than 200 one-on-one meetings with the investor’s attendees, highlighting the exchange’s dynamic vision for growth and its successful strategy to increase liquidity and market capitalization.
Senior management from ADX and J.P. Morgan also participated in a panel on Abu Dhabi’s Capital Market Roadmap – ‘ADX, the global exchange of the future’, along with a panel on Abu Dhabi’s energy paradigm – ‘Moving towards a de-carbonized future’. The event also featured a fireside chat with Daniel Pinto, President of JPMorgan Chase & Co. where he addressed the new trends in the global capital markets industry.
Significant activity
The roadshow was held against a backdrop of significant activity on ADX, which has seen increased participation from international and institutional investors, including in IPOs, listings, and new product launches. Last year, ADX listed more than 25 securities, including five IPOs that attracted significant global demand and raised over $5.4 billion. With the recent listings of ADNOC Gas ($2.5 billion) and Presight AI ($500 million), the ADX is once again at the forefront of the MENA IPO market in 2023.
In 2022, net foreign investment in ADX increased by 54.1% year to year reaching AED 23.5 billion with foreign holdings increasing by 92% during the same period. MENA-based investors led the foreign investment on ADX with a 44% share, followed by Europe & the UK (31%), the Americas (15%), and Asia (10%).
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