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DUBAI: The ADX has introduced a new benchmark that will track shares of the UAE “emerging and fast-growing companies starting their capital markets journey”.
The FTSE ADX Growth Market replaces the “Secondary Market” and will allow potential investors to connect with private companies in sectors such as transport, wholesale trade, healthcare and sports.
Saeed Hamad Al Dhaheri, Managing Director and CEO of Abu Dhabi Stock Exchange, said: “The new index will enable investors to track exciting opportunities in growth market sectors and make informed investment decisions to better manage their portfolio.” “Our partnership with FTSE Russell is an important part of increasing liquidity and supporting the growth of the exchange’s market capitalization.”
The FTSE ADX Growth Markets Index will provide investors with the ability to “mimic the performance of growth markets”.
First step to listing
Shortening the time it takes for private companies to go public has been part of the UAE’s plan to deepen its stock market. Growth markets will allow companies with reasonable track records to bring in strategic investors, but not necessarily to the full extent required for a full IPO.
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