Abu Dhabi says foreign investment at $681mn

by Reuters Thursday, 14 June 2007

Abu Dhabi's stock market said on Wednesday it had attracted about 2.5 billion dirhams ($680.8 million) of foreign investment this year, a number it said would rise as it boosts marketing and encourages cross-listings.

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Companies on the exchange, including National Bank of Abu Dhabi, its largest lender, and Aldar Properties, its largest developer, are visiting New York and London this week to boost foreign interest.
"Increasing institutional foreign investments entered the Abu Dhabi Securities Market during the past which lifted net foreign position to about 2.5 billion dirhams during the first few months of the year," Rashed al-Baloushi, acting director general of the exchange, said in a statement.

The bourse's main index, up 20 % this year, is the Gulf's best performer.

The exchange signed a cross-listing agreement with the Lahore Stock Exchange last year which would enable about 10 Pakistani companies to list in Abu Dhabi this year. The exchange has also discussed cross-listing with exchanges in Hong Kong and Singapore.



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