ADX listed companies' market cap hit AED526 billion by end of August

ABU DHABI, 2nd September, 2018 (WAM) -- Abu Dhabi Securities Exchange's listed companies market cap reached AED526 billion, by the end of August; with a remarkable increase in ADX general index by 13.4% from the start of 2018. By the end of August sessions, the market capitalisation of domestic public companies listed on ADX increased to AED495 billion compared with AED461 billion from the beginning of the year; an increase of 7.5%. In the meantime, the market capitalization of private listed companies on ADX reaches AED 7 billion, compared to AED2.8 billion from the beginning of the year, an increase of 145 %. By the end of 30th of August session, the market capitalisation of foreign public companies listed on ADX reached AED24 billion; bringing the total market capitalisation of domestic, foreign and private companies listed on ADX to AED526 billion. Chief Executive of ADX, Rashed Al Blooshi stated "Thanks to the continuing efforts towards the accomplishment of the organisational structure and modernisation of working mechanisms and trading systems, made ADX a magnet for domestic and foreign institutions during the recent period. Thus, ADX achieved this remarkable growth in its general index, the market capitalisation of listed companies, the company profit and the value of cash dividends distributed to companies’ shareholders." Al Blooshi pointed out that the number of investment institutions that entered the Exchange during the first half of this year amounted to 271 institutions, bringing the number of domestic and foreign investment institutions operating on the Exchange to more than 7,900 where 2,008 are domestic and 5,913 are foreign. These growing investments are the best evidence of the strong presence of the Abu Dhabi Securities Exchange within the list of preferred destinations for regional and global portfolios. Al Blooshi added, "The shareholders of ADX listed companies have benefited the most of their presence in ADX, after the exchange recorded one of the highest dividends yields in the world by 5.8%; a distribution of more than AED 23.4 billion in cash dividends to around 406 thousand investors on behalf of listed companies in 2018. This strengthens the Exchange’s position as a preferred listing destination and the high levels of competitiveness". Rashed Al Blooshi emphasised the Exchange's commitment to applying the best international standards and practices, by ensuring that investors and shareholders in the listed companies receive cash dividends, which reinforces ADX’s position as one of the leading financial markets to provide a stable environment and strong investment opportunities for both foreign investors and nationals.