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Tue 8 Apr 2008 09:29 PM

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Abu Dhabi bourse plans Asia roadshow

Some of emirate's biggest listed companies to accompany stock market on public relations drive.

The Abu Dhabi bourse is planning a roadshow in Asia along with some of the emirate's biggest listed companies as it looks to boost the flow of foreign capital coming into the market.

The Abu Dhabi Securities Market (ADSM) said on Tuesday it would hold presentations to investors in Singapore and Tokyo on April 8 and 10, highlighting investment opportunities for international institutions from Asia.

Aldar Properties, Sorouh Real Estate, Abu Dhabi Commercial Bank (ADCB), National Bank of Abu Dhabi (NBAD), Dana Gas, Agthia, Fujairah Cement, and Waha Capital will all be accompanying the ADSM on the roadshow, the bourse said.

Sorouh said on Tuesday it plans to allow foreign investors to own up to 40% in the property company, up from the current ceiling of 20%.

"This is the first time that the Abu Dhabi market has gone to Asia to educate investors about our listed companies, and we are confident of a good response," Tom Healy, director-general of the ADSM, said in a statement.

"We are seeing increasing interest in the region from investors in Asia, and this roadshow will help to strengthen this trend.”

Abu Dhabi's benchmark index climbed 0.47% to 4,760.34 points on Tuesday.

The Asian roadshow follows a similar PR campaign in London and New York last year. That time 11 companies accompanied the bourse, including NBAD and Abu Dhabi National Energy (Taqa).

The Dubai Financial Market (DFM) and Qatar's Doha Securities Market (DSM) also went on roadshows to New York and London respectively last year.

Abu Dhabi's Asian roadshow is being organised by HSBC.