Abdullah Salem Al Nuaimi, CEO of the Abu Dhabi Securities Exchange, expects the shares of two new companies to be listed before the end of this year 2024.
He explained in statements on the sidelines of his participation in the Portfolio Egypt Conference today, Monday, that the exchange platform launched by the Abu Dhabi Securities Exchange in July 2022, which facilitates the mechanism of mutual access to markets, currently includes 6 financial markets and offers 23 trading products through 11 brokers and 6.5 million and a half investors.
The exchange platform is the first digital exchange center in the region, and is based on, and provides a digital network exchange for trading between member exchanges at the regional and global levels.
They aim to improve cooperation and increase liquidity in participating markets, by enabling cross-market trading.
In January of last year, the Abu Dhabi Securities Exchange and the Bahrain Bourse announced the accession of the Muscat Stock Exchange, and at that time, securities listed on the Omani market became available for digital trading via the platform, alongside securities on the Abu Dhabi and Bahraini markets, in a move aimed at increasing liquidity levels in the financial markets and creating sustainable investment opportunities.
On the subject of offering new companies on the Abu Dhabi Securities Market, the catering unit of Abu Dhabi National Hotels Company said on Monday that the company intends to sell 40% of its shares through an initial public offering on the local stock market.
The final offering price will be determined through a book-building process, which will run from Oct. 7 to mid-October, ADNH Catering said in a statement.
All of the shares offered are owned by the parent company, Abu Dhabi National Hotels. Citibank and First Abu Dhabi Bank have been appointed as joint global coordinators and joint bookrunners for the IPO, while Emirates NBD and Abu Dhabi Commercial Bank have been appointed as joint bookrunners for the IPO. The listing is expected to take place next month.
It is noteworthy that the seventh edition of the Portfolio Egypt 2024 Conference was launched this morning, with the participation of leaders from Misr Clearing, BHM Capital, the Regional Voluntary Carbon Market, CI Capital, and Beltone Holding.
