ADX Hosts French Business Group Abu Dhabi
Muhammad Irfan 6 days ago Tue 16th April 2019 | 06:15 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 16th Apr, 2019) Abu Dhabi Securities Exchange, ADX, the region's leading financial market, recently hosted a delegation from the French business Group - Abu Dhabi in which the operational framework, vision, mission, and investment opportunities at ADX was highlighted to the delegation. Members of senior management attended the event from both sides.
Abdul Aziz Al Neaimi, Assistant Chief Executive of ADX, welcomed the visiting delegation stating, "ADX is keen to strengthen community outreach with investors in the financial markets in the aim of developing investment awareness so as for investors to gain profitable and secure returns."
Al Neaimi added that ADX has adopted a strategic initiative aimed at developing investment awareness by introducing investors to investment opportunities and identifying the most important challenges and opportunities facing investment.
During the meeting, the Assistant Chief Executive of ADX, presented to the delegation the exchange’s key achievements while underlying that ADX is considered a preferred destination for foreign investments in the region, as a result of its strong performance noting that the Exchange offers one of the highest dividend yields in the region and globally.
The number of French investors on the exchange stood at 487 by the end of 2018 of which 34 are institutional investors. The total value of their trades (buy + sell) during 2018 amounted to about AED45 million. At the end of 2018, the value of shares they owned exceeded AED120 million compared to AED94 million at the end of 2017, representing an increase of 29 percent.
During the meeting, the positive results achieved by the ADX during the first quarter of 2019 were also highlighted. Trading values reached about AED12 billion compared to about AED9 billion in the same period of 2018, an increase of 32.5 percent.
Whereas net foreign investment during the first quarter of 2019 alone stood to about AED1.3 billion compared to AED321 million in the same period last year, representing a growth of 294 percent. Furthermore, net institutional investment increased by 13.2 percent during the first quarter of 2019, with AED802 million compared to AED708 million in the same period of 2018.
The meeting concluded with an explanation of the exchange’s efforts to ensure listed companies’ adherence to the OECD's governance standards, as well as ADX's recent accession to the United Nations Sustainable Stock Exchange initiative to ensure sustainability and transparency.