NBAD joins ADX roadshow in New York

April 5, 2014 11:29 am

The National Bank of Abu Dhabi (NBAD) joined the Abu Dhabi Securities Exchange (ADX) delegation on a roadshow in New York to attract greater investment into the UAE securities market.

NBAD joined eight other ADX-listed companies in the delegation to America’s financial capital and met with a number of USinvestors; including fund managers, asset management and investment management companies, to highlight the opportunities in the Abu Dhabi stock market.

“The recent New York roadshow led by ADX provided a terrific opportunity for us to lay out NBAD’s new five-year strategic plan and to answer questions from current and prospective investors about the future of NBAD, Abu Dhabi and the UAE,” said Michael Miller, the Head of NBAD Investor Relations, who represented NBAD in the delegation.

“The trip enabled NBAD and other ADX-listed companies to meet with a number of investors who cover emerging markets andmight not be as familiar with Abu Dhabi or the UAE.”

In May, UAE stock markets, ADX and Dubai Financial Market, will be upgraded to MSCI Emerging Markets index. This upgrade has led to an increase in interest and investment from international institutional investors.

“Interest in NBAD and other Abu Dhabi companies is very high given the strong performance of the companies as well as the upgrade of the UAE to the MSCI Emerging Markets index,” said Mr. Miller.

The delegation was led by Rashed Al Balooshi, Chief Executive Officer of ADX. Mr. Al Balooshi was quoted in the Media: “As one of the leading global performers in 2013, ADX is very attractive to international investors, particularly in light of the upgrade by MSCI of ADX to emerging market status, which takes effect this year, as well as the encouraging performance of the UAE economy.”

ADX listed 65 companies at the end of 2013, with a combined market capitalization of $122 billion. Over 51 billion shares were traded in these companies in 2013, with a trading value of $23 billion.

“This trip was a huge success, and we look forward to partnering with ADX on similar trips in the future with the goal of promoting Abu Dhabi companies to investors around the world,”Mr. Miller said.