Foreign investment up to AED 9.9 billion at ADSM during last year

Abu Dhabi Securities Market (ADSM) witnessed a tangible increase in institutional investment, particularly foreign participation, whose net investment amounted to AED (9.9) billion in 2007 compared to AED one billion in 2006, showed an overview of the market activities released by ADSM.

An analytical report also showed that the value of trading increased by 148.4pc from AED (70,6) billion in 2006 to AED (175,3) billion in 2007.The daily average value of trading increased by 177.8pc from AED (250.4) million to AED (695.8) million a day. The number of traded shares increased 361pc from (11.3) billion shares to (52.1) billion shares. The daily average traded shares also rose more than 415pc from (40.1) million shares to (206.6) million traded shares per day. The Index increased by 51.7% during 2007 In 2007 ADSM had four new listings: Arkan building Materials, Fujairah Building Industries, Fujairah National Insurance Company and Fujairah Trade Center which raised the number of listed companies from (60) to (64). Also, the number of ADSM registered brokerage firms increased from (84) to (96). In order to support this growth, ADSM expanded and improved the technology infrastructure, enhanced the link with the branches to improve efficiency and speed of communication, and improved its surveillance capabilities. ADSM introduced a new website that facilitates access to details and comprehensive information for investors, brokers and listed companies.

During 2007, ADSM held a series of road-shows in London and New York aimed at introducing listed companies to a number of the largest asset management funds, financial analysts, investment funds and institutions in the UK and US to support investor relation activities enhance transparency and promote the ADSM market.

To strengthen international exposure, ADSM signed a number of memorandums of understanding (MoUs) with Bahrain Securities Market, Singapore Exchange Limited (SGX), Hong Kong Exchanges and Clearing Limited (HKEx) and with Taiwan Stock Exchange aimed at enhancing and strengthening cooperation between ADSM and these exchanges, to facilitate cross-listings, and increase institutional participation Furthermore, ADSM signed an MoU with Damascus Securities Market, through which ADSM will assist in setting up the exchange in Damascus. (WAM)