Abu Dhabi Securities Exchange Anticipates New Listing Before Year-End

Abdullah Salem Al Nuaimi, CEO of the Abu Dhabi Securities Exchange (ADX) Group, has announced expectations for a new listing on the market before the end of 2024. He highlighted continued momentum in initial public offerings (IPOs) and subscriptions, reflecting robust investor confidence in the UAE capital’s financial market.

Speaking on ADX’s achievements, Al Nuaimi noted that the exchange has facilitated four IPOs this year, including Alef Education, NMDC Energy, ADNH Catering, and Lulu Retail. Lulu Retail’s debut marked ADX’s 100th listing and the ninth public offering of its kind, solidifying the exchange’s position as a preferred platform for growth-focused companies.

Al Nuaimi emphasized ADX’s global standing, ranking among the top six stock exchanges worldwide in terms of funds raised through IPOs. Notably, it attracted three of the 20 largest IPOs globally in 2023. The four IPOs in 2024 alone raised nearly AED 12.3 billion, drawing record investor demand worth AED 310 billion. These offerings brought a combined market value of approximately AED 46.7 billion, underscoring confidence in Abu Dhabi’s economic vision.

Additionally, this year saw the listing of the “Chimera Standard & Poor’s Germany Justus ETF,” the fifth exchange-traded fund (ETF) listed on ADX in 2024 and the 15th overall. Al Nuaimi stressed that such listings align with Abu Dhabi’s strategic commitment to economic diversification and have bolstered ADX’s status as the most active ETF market in the Middle East and North Africa.

Reflecting on 2024, Al Nuaimi described it as a successful year for ADX, marked by innovative investment offerings and sector enrichment. Notable developments included the listing of Lulu in the retail sector and the merger of Yahsat and Bayanat to form “Space 42,” a key player in the technology sector.

The CEO also highlighted ADX’s openness to dual listings, citing examples such as Ooredoo, Sudatel, Americana, and Agility. He pointed to the “Tabadul” platform, which now connects six stock exchanges and recently added the Armenian Stock Exchange to its network. This expansion enhances ADX’s ability to attract international investments and provides strategic access to new markets for investors.

Looking ahead, Al Nuaimi confirmed plans to diversify the derivatives market by introducing new financial products alongside additional stock and ETF listings. These initiatives aim to solidify ADX’s role as a leader in delivering comprehensive investment opportunities and driving sustainable market growth.