ADX to kick off New York Road-show

ABU DHABI: Abu Dhabi Securities Exchange, ADX, will lead its first road-show of the year from 18th-20th March with a delegation to New York City comprising senior representatives of a number of listed companies.

The visit aims to engage with potential new investors, fund managers, asset management and investment management companies, as well as high-end investors to demonstrate the range of opportunities, as well as provide an insight into the operations and future development of ADX.

Rashed Al Balooshi, CEO of ADX, said, “We have much to offer new investors from the U.S. As one of the leading global performers in 2013, ADX is very attractive to international investors, particularly in light of the upgrade by MSCI of ADX to ’emerging market status’, which takes effect this year, as well as the encouraging performance of the U.A.E. economy.

“This is our second visit to the U.S. in recent years, and we are confident of a very positive response. The companies participating represent a good cross section of the ADX. We are now seeing increasing interest in the region from investors in the U.S., and this road-show is intended to boost this trend,” he added.

At the end of 2013, there were 65 companies listed on ADX, with a combined market capitalization of $122 billion. Over 51 billion shares were traded in these companies in 2013, with a trading value of $23 billion.

Mr. Al Balooshi will be accompanied by Saif Sayah Al Mansouri, Head of Listed Companies at ADX. The Abu Dhabi Council for Economic Development (ADCED) and the Abu Dhabi Investment Company (Invest AD) will be joining ADX on the road-show. Nine ADX listed companies will also take part, including the National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, Aldar Properties, Waha Capital, Dana Gas, First Gulf Bank, Etisalat, Agthia, and RAK Properties.

SOURCE: WAM