Today's Edition
LAMEES OBEIDAT (ABU DHABI)
The Abu Dhabi Securities Exchange (ADX) kicked off the trading week on a positive note, closing at 9,022.32 points with a 0.103% increase. Seventy-six companies were involved in the trading session, with 31 experiencing share price increases, 32 seeing declines, and 13 remaining unchanged.
The Abu Dhabi National Energy Company (TAQA) led the gainers, closing at Dh2.89 with a 5.86% increase.
Additionally, Lunate Capital, an Abu Dhabi-based management company, announced the launch of the Chimera J.P. Morgan Global Sukuk ETF, an exchange-traded fund (ETF) scheduled to list on the ADX on July 8. The ETF will track the performance of the J.P. Morgan Global Investment Grade Sukuk Index using a sampling strategy. This index currently includes over 70 liquid, USD-denominated Sukuk instruments from several global markets. The ETF is designed to include prominent investment-grade sovereign, quasi-sovereign, and corporate Sukuk issuers.
Investors can subscribe through six Authorised Participants or via the ADX eIPO investor portal from June 24. Abdulla Salem Alnuaimi, Group CEO of ADX, said: “We welcome the launch of the Chimera J.P. Morgan Global Sukuk ETF. Upon listing, this will be the 14th ETF on the exchange and the second fixed-income ETF. This ETF offers direct access to local, regional, and global fixed-income markets, meeting increasing investor demand for stable investment opportunities.”
Sherif Salem, Partner and Head of Public Markets at Lunate, commented: “Lunate’s Chimera J.P. Morgan Global Sukuk ETF is a unique product that will provide clients with access to a diversified portfolio of global Shariah-compliant corporate and government Sukuks. This marks our second fixed-income ETF launch this year and the 16th on UAE stock markets.”
The ETF will be managed by Lunate Capital LLC, which is licensed by the SCA as a management company. BNY Mellon will act as the ETF’s global custodian. The Authorised Participants for the Fund are International Securities, EFG-Hermes, Arqaam Securities, FAB Securities, Daman Securities, and BHM Capital.
