ADX chief predicts stream of IPOs and more global investors next year | The National:
"Abu Dhabi Securities Exchange (ADX) is betting that the UAE’s upgrade to emerging market status and an improvement in the economy will pull in more global institutional investors and prompt a stream of initial public offerings next year, according to Rashed Al Baloushi, the ADX chief executive.
The ADX’s benchmark stock measure has gained 52 per cent this year, the third-best performer after indexes in Dubai and Venezuela. It is heading towards its best year since 2005, when it gained 75 per cent, according to Bloomberg data.
The UAE’s economic recovery gained momentum this year, giving a boost to listed companies, Mr Al Baloushi said. Economists expect the economy to grow 4 per cent this year and by at least the same amount next year after Dubai won the right to host World Expo 2020."
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