Abu Dhabi - Mubasher: The President of UAE, Sheikh Khalifa bin Zayed Al Nahyan, has issued a law to change the legal status of the Abu Dhabi Securities Exchange (ADX) into a public joint shares company owned by ADQ, the new brand of the Abu Dhabi Developmental Holding Company.
The law has allocated AED 500 million ($136.15 million) in the company's capital, distributing over 500 million shares and AED 100 million in its export capital divided into 100 million shares, according to a press release on Tuesday.
The company will focus on managing the market, listing and trading securities, carrying out deposits, settlements, and central clearing works, as well as providing services to exporters and brokers.
The public joint shares company will also prepare securities dealing platforms and offer “financial services and products related to the operational and commercial activities of the market.”
