Abu Dhabi’s ADX expects increased listings this year

Abu Dhabi’s ADX expects increased listings this year

The Gulf’s second-biggest market last year featured five initial public offerings and two dual listings, as well as listings for six exchange-traded funds and one blank-cheque company

By Reuters Published: Thu 26 Jan 2023, 2:40 PM

The Abu Dhabi stock exchange expects an increase in listings this year, even as global economies grapple with high inflation and rising interest rates, its chairman said.

“We have a healthy pipeline of IPOs and listings with aspirations to surpass 2022. There will always be challenges, but also opportunities,” Hisham Khalid Malak, chairman of the Abu Dhabi Securities Exchange (ADX), said.

The global picture is “starting to look better than expected, with a soft landing now forecast in the United States”, he said, adding that “Europe is also starting to look better and China is opening up”.

The Gulf’s second-biggest market last year featured five initial public offerings (IPOs) and two dual listings, as well as listings for six exchange-traded funds and one blank-cheque company. It also had one listing on its secondary market, which connects investors with smaller privately owned businesses.

Hisham Khalid Malak, chairman of the Abu Dhabi Securities Exchange (ADX), said a $1.4 billion IPO fund launched by the emirate to attract companies to list is also