Abu Dhabi Securities Exchange Gears Up for New Listing Before 2024 Ends

The Abu Dhabi Securities Exchange (ADX) is set to welcome a new listing before the year ends, continuing its strong momentum in initial public offerings (IPOs) and investments. This comes as part of the Exchange’s strategic vision to expand its market offerings and attract global investments.

Notable Achievements in 2024
Abdullah Salem Al Nuaimi, CEO of ADX Group, highlighted that the Exchange has already achieved significant milestones this year, including four major IPOs: Alef Education, NMDC Energy, ADNH Catering, and Lulu Retail. Lulu Retail marks the 100th listing on ADX, becoming the ninth retail offering and the 24th listing of 2024.

The Exchange’s robust performance has solidified its reputation as a preferred platform for companies seeking growth opportunities within and beyond the UAE. The IPOs this year generated proceeds of nearly Dh12.3 billion, with record-breaking investor interest amounting to Dh310 billion. The total market value of the newly listed companies reached Dh46.7 billion.

Global Recognition
ADX is now ranked among the top six stock exchanges globally for funds raised through IPOs. In 2023, it successfully hosted three of the world’s 20 largest IPOs, further enhancing its global stature.

Innovative Offerings
This year, ADX also expanded its portfolio with the listing of the “Chimera Standard & Poor’s Germany Justus ETF,” the fifth exchange-traded fund (ETF) added this year and the fifteenth overall. The Exchange’s ETF market is now the most active in the Middle East and North Africa (MENA), showcasing remarkable growth in trading value and volume.

Strategic Developments
The Exchange enriched its listed sectors with the inclusion of Lulu in retail and the merger of Yahsat and Bayanat to form Space 42 in the technology sector. ADX also strengthened its dual-listing partnerships with companies such as Ooredoo, Sudatel, Americana, and Agility.

Additionally, the “Tabadul” platform, which now connects six stock exchanges, recently welcomed the Armenian Stock Exchange, enhancing ADX’s global network and its ability to attract international investments. Plans are underway to include more markets in the platform soon.

Future Prospects
ADX aims to diversify its offerings further by adding new financial derivatives in the coming year while continuing its efforts to introduce innovative investment products and listings, including stocks and ETFs.

Conclusion
With its strong performance and ambitious plans, the Abu Dhabi Securities Exchange is set to remain a key player in global financial markets, driving economic diversification and innovation in the UAE. The upcoming listing is another step in solidifying its position as a premier investment hub.