Emerging markets investor calls for UAE market initiatives | GulfNews.com:
"To see the UAE’s stock market expand further, one of the world’s leading emerging markets investors has called for a need to encourage increased privatisation and inviting more companies in the region to list in here.
Speaking to the local media on Monday in Dubai, Mark Mobius, executive chairman of Templeton Emerging Markets Group, said that combining the two markets, Abu Dhabi and Dubai, will be “the one step in the right direction” that will likely to lead to more listings.
“And there has to be, of course, more privatisation of assets here — there’s lot of scope to that,” said Mobius.
He also suggested that the UAE markets make efforts to invite companies from the region in the form of ADR or Arab Depository Receipt. Through ADRs, one could get a Saudi Arabian company listing here, which would be a lot more beneficial for international investors. Currently gaining exposure to Saudi Arabia, the Gulf’s largest and most liquid stock market, is through buying Proprietary Notes."
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