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Abu Dhabi Securities Exchange CEO says 2024 will see continued momentum in new listings

Abu Dhabi Securities Exchange CEO says 2024 will see continued momentum in new listings
28 Nov 2023 19:15

ABU DHABI (WAM)

 


Abdulla Salem Al Nuaimi, Chief Executive Officer at Abu Dhabi Securities Exchange (ADX), anticipates continued growth and momentum in 2024, including numerous new listings and offerings.

 


Speaking to the Emirates News Agency (WAM) on the sidelines of the Environmental, Social, and Governance (ESG) index launch during Abu Dhabi Finance Week (ADFW) 2023, Al Nuaimi noted the Abu Dhabi market's robust activity in 2023, maintaining the exceptional growth momentum witnessed in 2022.

 


He attributed the listings and offerings to ADX's pivotal role in connecting investors with companies, fostering growth opportunities, and solidifying the UAE and Abu Dhabi's positions as global investment hubs.

 


Notable listings in 2023 include ADNOC Gas, Presight AA Holding, ADNOC Distribution, and Investcorp Capital. The listing of Phoenix Group shares is scheduled for 5th December, while Pure Health Holdings announced its intention to conduct an initial public offering (IPO) followed by the listing of its shares on ADX in December 2023, subject to regulatory approvals and legal procedures.

 


Al Nuaimi also highlighted the ESG index launch's alignment with the UAE's preparations to host the United Nations Climate Change Conference (COP28).

 


Developed in collaboration with FTSE Russell, the index aims to provide investors with a reliable benchmark for corporate governance, social responsibility, and environmental considerations.

 


Based on comprehensive criteria, the index measures the adoption of best governance, social responsibility, and environmental practices by listed public companies on ADX. Al Nuaimi emphasised the index's role in promoting sustainable finance and encouraging investments in companies committed to responsible governance, social responsibility, and environmental practices.

Source: WAM
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