ADX and Abu Dhabi companies to court foreign investors on London roadshow

Listed companies including FAB, ADIB, Aldar, Etisalat and Fertiglobe will meet investors this week

The Abu Dhabi Securities Exchange is the Arab world's second-largest bourse by market value.  Photo: ADX
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Senior executives from nine listed companies and the leadership of the Abu Dhabi Securities Exchange (ADX) are meeting international investors in London this week as the Arab world's second-largest stock market seeks to boost capital flows to the UAE.

The delegation, led by ADX managing director Saeed Al Dhaheri, includes more than 25 chief executives, chief financial officers and other senior executives from the listed companies, the ADX said in a statement on Monday.

Adnoc Distribution, Adnoc Drilling, Abu Dhabi Islamic Bank, Agthia, Aldar Properties, Al Yah Satellite Communications Company, Etisalat, First Abu Dhabi Bank and Fertiglobe are the listed companies attending the two-day roadshow that will begin on June 9.

“UAE capital markets are shining brightly on the screens of international institutional investors because of the country’s robust macroeconomic fundamentals, strong corporate performance and accelerating capital markets activity,” Mr Al Dhaheri said.

“ADX is a core component of the major transformation under way in the region, which is creating a vibrant, diversified and sustainable economy. 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.”

ADX market capitalisation has risen more than 25 per cent this year to Dh2.03 trillion ($553.12 billion). Its benchmark FTSE ADX General Index rallied more than 62 per cent last year and has climbed about 16 per cent since the beginning of this year.

There were nine listings on the main exchange last year, including Adnoc Drilling, which raised $1.1bn in October, as well as Fertiglobe, the world’s largest seaborne exporter of urea and ammonia combined, which reaped about $795 million.

Quote
UAE capital markets are shining brightly on the screens of international institutional investors due to the country’s robust macroeconomic fundamentals, strong corporate performance and accelerating capital markets activity
Saeed Al Dhaheri, managing director, ADX

The ADX has carried the IPO momentum into 2022. Shares of Abu Dhabi Ports Group, the operator of industrial cities and free zones in the emirate, began trading on the ADX in February.

Borouge, the joint venture between Adnoc and Austrian chemicals producer Borealis, successfully closed its $2bn IPO, the biggest share sale on the ADX, in a deal that was about 42 times oversubscribed.

The ADX last year said it plans to double the market capitalisation of companies listed on the exchange within the next three years.

Abu Dhabi is investing in five to 10 companies a year through its Dh5bn IPO fund to encourage and private companies’ listing on the ADX that will further deepen and broaden the emirate's capital market, according to officials.

Updated: June 06, 2022, 12:29 PM
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