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Abu Dhabi, UAETuesday 19 June 2018

ADX concludes New York roadshow, expanding beyond 3,800 US investors

Equity market is seeking to woo more foreign investors

Mr Al Blooshi said the US roadshow is intended to attract international individual and institutional investors, and present opportunities available in ADX. Satish Kumar for the National
Mr Al Blooshi said the US roadshow is intended to attract international individual and institutional investors, and present opportunities available in ADX. Satish Kumar for the National

The Abu Dhabi Securities Exchange (ADX) completed its New York roadshow this week, touting market successes and an expanded portfolio of individual and institutional investors in the United States.

Following meetings in Boston, ADX Chief Executive, Rashed Al Balooshi, went to New York where he hosted roadshows on Monday and Tuesday. It oversaw meetings for ADX and listed companies with around 70 institutional investors whose assets under management are around $11 trillion.

Mr Al Blooshi told The National that the roadshow is intended to attract international individual and institutional investors, and present opportunities available in ADX.

As it stands, US investors registered on the ADX stand currently at about 3,800 investors, of which 1,637 are individual investors and the remainder are institutional.

UAE equity markets are courting more foreign investors as they seek to boost lacklustre liquidity in the market. ADX launched shortselling services last year in a bid to attract more international investors, who usually use this tool for hedging.

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Mr Al Blooshi touted ADX’s database, of around 965,000 investors, 40 per cent of which are from outside the UAE. “We have succeeded to attract outside investors” he said, owing it to Abu Dhabi’s economic indicators, and more generally a “clear strategy, stable policy, a clear vision, and investment in prosperity for UAE.”

Just in New York, Mr Al Blooshi held 70 meetings with companies seeking more opportunity with ADX. Last year, the Heritage Foundation ranked Abu Dhabi number 8 out of 180 countries on its economic freedom index.

A vibrant stock market, advanced technology and high cash dividends have boosted ADX's rating, explained Mr Al Blooshi.

Mr Al Blooshi said aluminium and steel tariffs that Donald Trump imposed last month would not impact UAE listed companies because “no company listed in ADX deals in aluminium, so we won’t be affected.” He added that UAE companies are “mature enough, and have diversified markets” in a way that would lessen the impact of such tariffs.