Abu Dhabi developer Alpha Dhabi is latest UAE listed company to make it to FTSE global equity listings

Abu Dhabi developer Alpha Dhabi is latest UAE listed company to make it to FTSE global equity listings

Dubai: Abu Dhabi’s blue-chip developer Alpha Dhabi is the latest listed company from the UAE to make the FTSE global equity index series. This will secure a global investor spotlight for Alpha Dhabi, which on its listing in June last year had a market value of Dh150 billion. The developer is the 17th company from the UAE to be listed on the FTSE global index, which covers securities in 49 countries. In October last, ADNOC Drilling made it, while earlier there have been inclusions for banking heavyweight FAB as well as the holding company IHC. (The latter incidentally owns 45 per cent in Alpha Dhabi.) “In 2021, the ADX welcomed nine companies, including ADNOC Drilling, the biggest IPO to date in the exchange’s history,” said Vijay Valecha, Chief Investment Officer at Century Financial. “There was Alpha Dhabi, the real estate and construction company owned by International Holding Company (IHC). “The inclusion into the FTSE listings suggests that a company is big enough to try and gain global investor attention, and hence is being tracked by the FTSE Global Index.” Alpha Dhabi has a sizeable stake (about 30 per cent) in another Abu Dhabi developer, Aldar, and also bought 25.24 per