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ADX increases access for foreign investors in H1-20

ADX increases access for foreign investors in H1-20
The ADX saw 1,723 new investors in H1-20

Abu Dhabi - Mubasher: Abu Dhabi Securities Exchange (ADX) announced that AED 6.3 billion of additional stock became accessible to foreign investors during the first half (H1) of 2020, raising the number of foreign investors in the market.  

Three-ADX companies have increased the foreign ownership limit to 49% in H1-2020 and another raised it to 40% to open AED 6.3 billion of stock for foreign investment, according to a press release on Thursday, highlighting the ADX's performance during the first six months of 2020.

Meanwhile, foreign investors were allowed for ownership in 55 ADX-listed companies, accounting for 80% of the exchange.

The number of non-UAE nationals who acquired an investor number in ADX rose by 25% in H1 of 2020, when compared to the same period of 2020.

The ADX saw 1,723 new investors in the January-June period, of whom 53% are foreign investors.

The exchange's market cap recorded around AED 500 million as of 30 June and increased by over 20% to AED 607 billion following the completion of Abu Dhabi National Energy's (TAQA) transaction with AD Power on 1 July.

ADX Chief Executive, Khaleefa Al Mansouri, said: "Especially given the obvious challenges, our performance demonstrates that ADX is delivering on its key strategic objective of becoming more liquid and more accessible to a broader mix of investors."

Al Mansouri added: "Our performance so far this year shows that we are as well placed as any exchange in the world to enable investors to take advantage of improving market conditions, by increasing access, liquidity and the range of products available, an essential component of a healthy and growing economy."