Abdullah Salem Al Nuaimi, CEO of Abu Dhabi Securities Exchange (ADX) Group, revealed that a new listing is expected on the market before the end of 2024.
This follows a year of strong momentum in initial public offerings (IPOs) and subscriptions, showcasing growing confidence in Abu Dhabi’s financial market.
Record IPOs and Market Milestones
The ADX saw four major IPOs in 2024, including Alef Education, NMDC Energy, ADNH Catering, and Lulu Retail. Lulu’s listing marks a significant milestone as the 100th listing on ADX and the ninth IPO offered to investors this year.
The total proceeds from these IPOs reached Dh12.3 billion, with record investor demand generating requests worth Dh310 billion. The market value of the four companies stands at Dh46.7 billion, reflecting Abu Dhabi’s strong economic foundations.
Abu Dhabi’s Global Ranking in IPOs
ADX ranks among the world’s top six stock exchanges for funds raised through IPOs, securing three of the 20 largest IPOs globally in 2023. This success underscores ADX’s position as a hub for companies looking to grow within and beyond the UAE, offering diverse and innovative investment opportunities.
Strength in Exchange-Traded Funds (ETFs)
This year also marked the listing of the Chimera Standard & Poor’s Germany Justus ETF, ADX’s fifth ETF in 2024 and its fifteenth overall. ADX has solidified its reputation as the most active ETF market in the Middle East and North Africa, driven by rising trading volumes and value.
Strategic Vision for Economic Growth
Abu Dhabi’s focus on economic diversification is evident in ADX’s continued expansion. Highlights include Lulu Retail’s listing in the retail sector and the merger of Yahsat and Bayanat to form Space 42, now part of the technology sector. ADX is also enhancing global connectivity through its Tabadul platform, which links six stock exchanges and recently welcomed the Armenian Stock Exchange, with more partnerships expected soon.
Future Plans for 2025
ADX plans to broaden its offerings in 2025, introducing new products in the derivatives market alongside additional IPOs, ETFs, and financial products. With a commitment to innovation and growth, ADX is set to strengthen its position as a global financial leader.
