ADX likely to see 10 new listings in 2021

ADX likely to see 10 new listings in 2021

The Abu Dhabi Securities Exchange (ADX) may witness at least 10 new listings in 2021, marking the highest number on record, the said as recently reported by Bloomberg. Source referred that ADX, owned by ADQ, has continued to provide incentives to investors and support the initial public offerings (IPO) amid the challenges that have faced the rally in global stock markets for four years. Hence, the ADX's incentives include flexibility on the minimum stake size required for share sales, alongside the promises to cut or cancel the listing fees, the sources told Bloomberg. The bourse hasn't had an IPO since Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) started trading in 2017. The remarked: It is noteworthy to mention that ADNOC has started holding virtual meetings with potential investors before launching the planned IPO of its drilling unit. In addition, ADNOC and the Netherlands-based OCI, a producer of natural gas-based fertilisers and industrial chemicals, are considering an IPO for their fertiliser joint venture Fertiglobe. Mubadala Investment Company is also close to selling shares in Emirates Global Aluminium (EGA).