A delegation from the Abu Dhabi Securities Exchange (ADX) and 9 companies listed in it will meet with a number of major investment institutions in London on June 9 and 10, as part of a strong representation that aims to attract more foreign investments to the UAE financial markets from senior portfolio investment managers.
ADX said in a statement, “The market seeks, through these meetings, to highlight the great progress it has made in achieving its strategy to enhance its liquidity and market value through a set of pioneering initiatives.”
Among the achievements of the market during the past year were the launch of a market for financial derivatives, the listing of exchange traded funds, in addition to adopting a regulatory framework for companies established for the purposes of mergers and acquisitions.
ADX witnessed an increase in its market value by 25% since the beginning of the year, to reach nearly 2 trillion dirhams ($545 billion).
This rise was driven by a series of major initial public offerings (IPOs) and listings completed over the past year with a total value of more than $5 billion, including Abu Dhabi Ports, Vertiglobe, ADNOC Drilling, Alpha Abu Dhabi and the Multiplay Group.
Borouge also succeeded last week in raising $2 billion after conducting an initial public offering that was culminated in the successful listing of its shares on ADX. This offering witnessed an exceptional turnout and constituted one of the largest initial offerings in the history of the market to date.
Saeed Hamad Al Dhaheri, Managing Director and CEO of Abu Dhabi Securities Exchange, said: “The UAE financial markets are receiving great attention from international investment companies thanks to the country’s solid economic foundations, the strong performance of the companies operating in it, and the remarkable acceleration in the activity of its financial markets.”
He pointed out that the ADX plays a key role in the great transformation that the region is witnessing towards building vibrant, diversified and sustainable national economies.
He said, “Attracting more global and diversified investments is essential to achieving this goal, so it is imperative that we continue to strengthen relations with international investors, inform them of our success stories and maintain open channels of communication with them.”
Al Dhaheri heads the ADX delegation, accompanied by more than 25 CEOs, CFOs and executives from companies listed on the market, including ADNOC Distribution, ADNOC Drilling, Abu Dhabi Islamic Bank, Agthia Group, Aldar Properties, and Al Yah Satellite Communications Company “Yahsat”. Etisalat Group, First Abu Dhabi Bank, and Vertiglobe.
