Abu Dhabi to list 13 new companies in ADX by year-end

Abu Dhabi to list 13 new companies in ADX by year-end

Mohammed Ali Al Shorafa Al Hammadi, chairman of ADX, said the new listings will include four companies from outside the UAE, while others will be government and family-owned businesses

An investor looks up at electronic boards displaying stock information at the Abu Dhabi Securities Exchange stock market. The exchange’s market capitalisation further climbed to Dh1.85 trillion on Monday, according to the ADX website. — Reuters file photo

Published: Mon 28 Mar 2022, 6:10 PM

Abu Dhabi is planning to list 13 new companies on the Abu Dhabi Securities Exchang (ADX) by year-end that will help boost market value to Dh3 trillion ($816.86 billion), according to atop official.

Mohammed Ali Al Shorafa Al Hammadi, chairman of ADX, said the new listings will include four companies from outside the UAE, while others will be government and family-owned businesses.

“We are confident of achieving a Dh3 trillion market value by listing more companies on the exchange,” Al Shorafa told Sky News Arabia on Monday.

The ADX, which hit Dh1.6 trillion market capitaisation last year, remained one of the best performing exchanges globally in 2021. The exchange’s market capitalisation further climbed to Dh1.85 trillion on Monday, according to the ADX website.

Market capitalisation on the rise

The market, which listed nine companies