Abu Dhabi Securities Exchange continues its growth trajectory

The Abu Dhabi Securities Exchange (ADX) continued its ambitious growth trajectory from the beginning of the year until the end of the third quarter, registering a 16.9 per cent gain on its benchmark index FTSE ADX 15 (FADX 15).

The gain was supported by a rise in institutional and individual investors on the exchange, a trading uptick on ADX’s fast-growing Exchange Traded Funds (ETF) market, new listings and the introduction of an index created in partnership with FTSE Russell.

From the beginning of the year to end of third quarter, traded values (buy + sell) on the exchange reached Dhs648.9 billion compared to Dhs495 billion during the same period last year, an increase of 31 per cent.

From the beginning of the year to end of Q3 also witnessed net foreign investment reaching Dhs19.8 billion compared to Dhs7.1 billion during the same period last year which is a 176 per cent increase, and a 28.7 per cent increase in the value of shares traded by institutional investors to Dhs541.5 billion in the same period.

The market capitalisation of stocks listed on ADX increased 59.7 per cent to Dhs2.2 trillion at end of the third quarter from Dhs1.38 trillion during the same period in 2021.

Year to end of Q3 trading values for ETFs on ADX reached Dhs886.9 billion, an increase of 744 per cent from Dhs105 billion compared to the same period in 2021, thus making ADX’s ETF market the most liquid in the region. Reflecting the exchange’s commitment to encouraging the pipeline for index-linked products, a Turkey-focused ETF was listed on the exchange in the third quarter.

The Chimera S&P Turkey Sharia ETF began trading on ADX on Aug.1, bringing the total number of ETFs on the exchange to seven, the highest number of ETFs on a Mena exchange.

To support the increased demand for passive strategies, ADX partnered with FTSE Russell this year to create a suite of indices, including the introduction of the FTSE ADX Growth Market Index (FADGMI) in the third quarter.

The measure provides investors with the ability to mimic the performance of the Growth Market, a trading platform for fast-growing companies starting their capital market journey.

Traded values on the Growth Market in the first nine months of the year increased 147.7 per cent year on year to Dhs20.1 billion while the market capitalisation increased 84.8 per cent to reach Dhs76.6 billion as of the end of third quarter of 2022.  Abu Dhabi Securities Exchange (ADX) achieved its fifth dual listing with the market debut of Gulf Investment House (GIH), a Kuwait-based financial services company.

The dual listing on ADX allows GIH to expand its investor base and liquidity in its shares. The company, which invests in real-estate properties and direct investments, has been listed on the Kuwait Boursa since May 2002 and has a market capitalisation of Dhs1.96 billion.

The Chairman of the Board of Directors of Gulf Investment House, Abdulaziz Asaad Alsanad announced that: GIH inaugurates a new historical milestone in its journey represented in the inclusion of the company’s shares on ADX, one of the most important and prominent regional markets, which has a market capitalization of more than Dhs2.2 trillion.

It is the first Kuwaiti company since the inception of the Kuwait Boursa to be listed in Abu Dhabi.

Alsanad stressed that our aspirations in the Board of Directors of GIH are large and high, as Abu Dhabi represents an opportunity towards integration into a dynamic and diversified investment and economic environment characterised by high flexibility of growth and vast economic horizons full of opportunities. Which aspires us to establish an economic partnership with the private sector there, contribute to the growth and development of the economy, and enter into various projects.

With GIH having subsidiaries and associates covering various economic activities, it gives us flexibility and openness to various economic sectors in Abu Dhabi and benefit from keeping pace with the effective transformation plan in the economic base of the country, which has a firm commitment to building a sustainable, diversified and value-added economy. We were encouraged to be present in a market that reflects a qualitative economy that seeks diversification and capacity building in modern economic sectors.

Burjeel Holdings announced its intention to list 11 per cent of its share capital on the main market of the Abu Dhabi Securities Exchange (ADX).

The company’s planned listing will provide investors with an opportunity to gain exposure to one of Mena’s leading private healthcare service providers.

The Company intends to offer 200,397,665 new shares, and VPS Healthcare Holdings (Selling Shareholder) intends to offer up to 350,331,555 existing shares in the company’s issued share capital (the Offering).