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  • 29-01-23

    Abu Dhabi’s ADX estimates higher register in 2023

    (MENAFN) The Abu Dhabi share exchange forecast a surge in registers in 2023, even as worldwide economies struggle with peak inflation and flying interest rates, its chairman stated.

    "We have a healthy pipeline of IPOs and listings with aspirations to surpass 2022. There will always be challenges, but also opportunities," Hisham Khalid Malak, chairman of the Abu Dhabi Securities Exchange informed a news agency on Wednesday.

    The worldwide picture is "starting to look better than expected, with a soft landing now forecast in the United States", he said, adding that "Europe is also starting to look better and China is opening up".

    The Gulf's second-largest market in 2022 included five first public offerings as well as two dual registering, in addition to registers for six exchange-traded investment and one blank-cheque firm. It also had one registering on its secondary market, which attaches financers with reduced privately possessed businesses.

    Abu Dhabi National Oil Co.'s gas business as well as Abu Dhabi-headquartered supermarket chain Lulu Group International are between those preparing registering in 2023.

    MENAFN29012023000045014228ID1105490813

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