Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) has been in talks with the US-based investment banking company Morgan Stanley over developing business relations between both parties.
This came on the sidelines of a meeting between the ADX’s acting chief executive Khalifa Salem Al Mansouri and Morgan Stanley’s chairman and CEO MENA Sammy Kayello, according to a press release.
This meeting comes in line with Abu Dhabi’s Ghadan 2021 plan aiming to offer jobs, boost innovation, and enhance the quality of life for residents.
Khalifa Salem Al Mansouri said: “This was a valuable introduction for ADX. Developing business relations with such a highly-experienced American multinational investment bank and financial services company as Morgan Stanley will serve to further potential cooperation to further ADX’s long-term vision.”
“Their record speaks for itself, placed as it is within the top 10 for average six-month return from pricing on US initial public offerings (IPOs) since 2014 according to recent data from Dealogic,” Al Mansouri added.
It is worth noting that the ADX’s foreign net investment soared by 373% year-on-year during the first half of 2019 to AED 2.3 billion from AED 489 million.
Moreover, net institutional investment hiked by 110% to AED 1.9 billion in H1-19, compared to AED 947 million in H1-18.
The number of investors in the ADX stood at nearly 969,000 at the end of H1-19, including 8,732 institutional investors of which 6,345 are foreign.
