Reforms, new rules to spur rebound in UAE IPO action issacjohn@khaleejtimes.com Filed on February 28, 2021
Equity markets in the Mena region experienced high volatility and average daily trading values increased significantly across the main exchanges.
(AFP)
Several new initiatives were launched in UAE with aim of bolstering activity in years ahead
After a fall of 40 per cent in initial public offering (IPO) issuances across the Middle East and North Africa region in 2020, the UAE is expected to witness a rebound in IPO activity in the coming years on the back of sweeping reforms, changes to foreign ownership law and listing requirements in, EY said in a report.
إرنست ويونج: نشاط متوقع للاكتتابات العامة بالإمارات albayan.ae - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albayan.ae Daily Mail and Mail on Sunday newspapers.
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Abu Dhabi Securities Exchange (ADX) is reducing transaction fees on all trading activities from next week as part of its plan to double the market capitalisation of companies listed on the exchange within the next three years.
Under the initiative, fees of all transactions that occur on ADX will be reduced to 0.175 per cent, from 0.225 per cent, the Abu Dhabi Securities Exchange said in a statement on Saturday.
“Reducing overall transaction costs for trading on the exchange is one of many initiatives we are undertaking to achieve our strategy of attracting new liquidity sources and making listing and investing in ADX an attractive value proposition,” Mohamed Al Shorafa, chairman of Abu Dhabi Securities Exchange, said.
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Global markets shake up and local concerns over real estate, economy hit investors After days of heading up, stock prices and investor sentiments take a dive. Image Credit: Antonin Kelian Kallouche/Gulf News
Sentiments on the UAE stock markets have turned completely negative – as a mix of global events and local concerns fuel investor fears. Within the first two hours of Monday. The index shed more than 100 points, with 28 stocks in the red. (Al Salam Group Holding is the only one as of 11.30am to break the down trend.)
By 12pm, the drop was brought down below 4 points. But it still looks like being a long day for UAE investors.