Capital Markets
From The Report: Abu Dhabi 2016
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The Abu Dhabi Securities Exchange (ADX) has quickly developed from a fledging investment platform to an institution of global significance. At the end of 2015 a total of 66 public companies were listed on the exchange, with insurance, banking and industry making up the largest subsectors in terms of listings. The government has made moves to expand its debt and bond offerings in recent times, with the emirate’s most recent sovereign issuance, consisting of a five-year $3bn bond in 2009, following on from two similar five-year offerings, which together formed the beginnings of a yield curve by which subsequent corporate offerings might be made. Meanwhile, the development of a new financial centre promises to significantly add to Abu Dhabi’s inward and outward investment activity. Al Maryah Island has been chosen as the location for a new financial free zone in the emirate. This chapter contains an interview with Rashed Al Balooshi, CEO, Abu Dhabi Securities Exchange (ADX).

Articles from this Chapter

Overview

Emerging centre: The growth of Abu Dhabi’s exchange offerings is leading to new financial activity in the emirate and across the region
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Declining oil prices and regional unrest made 2015 a challenging one for capital markets across the region, and Abu Dhabi equity and debt arenas were no exception. Yet the development of new regulations, processes and products on the emirate’s exchange, and the opening of a new financial free zone on the capital’s Al Maryah Island, mean that capital market activity in Abu Dhabi is poised for a new phase of growth when investor sentiment again turns positive. Rapid Development One of the most…

Interview

Grow and refine: OBG talks to Rashed Al Balooshi, CEO, Abu Dhabi Securities Exchange (ADX)
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Interview:Rashed Al Balooshi With 35-40% of daily trading values coming from institutional investors, are any further measures being considered to increase this? RASHED AL BALOOSHI: The past year has seen a large swathe of new investors come into the market, a significant majority of which were non-Emiratis. In fact, 60% of the investor numbers issued were to non-UAE nationals, including 709 foreign institutional investors, with net foreign investment reaching Dh5.8bn ($1.6bn) in 2015, an…

Analysis

Market expansion: A second exchange board is creating new options for entities looking to list in the emirate
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The earliest listings in any new market are important for exchange authorities that want to attract more companies to the board. In the case of the Abu Dhabi Securities Exchange (ADX), the private joint-stock companies (PJSC) platform has two strong institutions to build from. Manazel Real Estate and The National Investor (TNI) were listed on ADX’s new market for PJSCs in November 2014, and each of them grew outwards from one of the emirate’s most important economic sectors. Manazel is a PJSC…