Abu Dhabi bourse rebrands, eyes foreign listings

NAME CHANGE: Abu Dhabi's bourse will now be known as the ADX under rebranding aimed at attracting more foreign investment. (Getty Images)

The Abu Dhabi Securities Market said on Tuesday it changed its name to the Abu Dhabi Securities Exchange (ADX) as part of a rebranding drive that aims to attract foreign companies.

The rebranding reflects international practice and the sophistication of the types of securities to be traded on the exchange, the ADX said in a statement.

The bourse is looking to add exchange-traded funds (ETFs) - funds listed on stock exchanges and offer investors exposure in underlying shares or other assets - and foreign listings, it said.

The rebranding move comes just a few weeks after the ADX launched a series of roadshows in Singapore and Tokyo last month in a bid to attract foreign investment. It also had similar roadshows in London and New York in June last year.

RELATED: Abu Dhabi bourse plans Asia roadshow

Taiwan's Polaris Securities could launch the first ETF on the exchange as early as June, the Taiwan stock exchange said last month.

Foreign investments from outside the Middle East in the Abu Dhabi bourse reached 3.1 billion dirhams ($844 million) in 2006, the Acting Director-General Rashed Al-Baloushi said last year.

The benchmark, the second-best performer in the Gulf Arab region last year, is up 11.04% this year. (Reuters)

Print | Email | Discuss this article |

USER COMMENTS (0 COMMENTS)

POST A COMMENT

CLICK HERE TO POST A COMMENT

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code *
Please click post only once - your comment will not be published immediately.