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Thu 16 Jul 2020 11:14 AM

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Number of foreign investors surges in Abu Dhabi's ADX

About 80% of ADX-listed companies are now accessible to non-UAE nationals

Number of foreign investors surges in Abu Dhabi's ADX

Image: AFP

The number of non-UAE nationals who acquired an investor number at the Abu Dhabi Securities Exchange (ADX) went up by 25 percent in the first half of the year, ADX said in a statement.

In a performance update on the six months ending on June 30, ADX also said that three ADX-listed companies raised foreign ownership limits to 49 percent, while one increased to 40 percent, adding AED 6.3 billion of stock in these companies accessible to foreign investors.

A total of 55 ADX-listed companies are now accessible to foreign investors, representing 80 percent of the exchange. All the top 25 global asset managers are registered as investors on ADX.

Additionally, the ADX update noted that there were a total of 1,723 new investors were recorded in H1, of whom 1,497 were individual or retail investors and 226 were institutional investors. Of the individual or retail investors, just over half – 53 percent – were non-UAE nationals.

Total market capitalisation stood at nearly AED 500 billion on June 30, which has since risen by more than 20 percent to AED 607 billion following the completion of Taqa’s transactions with AD Power on July 1.

“The whole of Abu Dhabi has collaborated to ensure that the emirate emerges from the Covid-19 crisis well placed to resume its long-term growth strategy trajectory,” said ADX chief executive Khaleefa Al Mansouri.

“ADX has co-ordinated closely with its listed companies and other stakeholders to build a robust, modern and increasingly international capital market, an essential pillar of any economy,” Al Mansouri added. “Especially given the obvious challenges, our performance demonstrates that ADX is delivering on its key strategic objective of becoming more liquid and more accessible to a broader mix of investors.”

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