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ADX Lists Reem Investments Shares On Second Market |
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Abu Dhabi Securities Exchange, ADX, has listed Reem Investments shares on the second market, a market dedicated for trading of shares of private companies, under the symbol "REEM". Trading on Reem Investments shares officially started on 30th September of the current year. Speaking on the listing of the company's shares on ADX, Abdulhamid Mohammed Saeed, Managing Director, said, "Today marks a new chapter in the company's history. The listing of the company's shares on Abu Dhabi Securities Exchange, a market that is known for its growth and efficiency, will enable Reem Investments to embark on the next leg of growth story with wider shareholder participation while continuing to invest in vital sectors that drive sustainable development in the region and in the process ensuring best returns for our shareholders.. This major step also re-iterates our commitment to transparency which is at the core of the company’s value system." "We would also like to avail this opportunity to extend our sincere thanks and appreciation to the Securities and Commodities Authority and to Abu Dhabi Securities Exchange for their continuous cooperation which has resulted in the smooth completion of the listing process," he added. Rashed Al Blooshi, Chief Executive of ADX, commented, "Listing the shares of Reem Investments on ADX’s Second Market confirms our position as a preferred listing destination and reflects the high levels of international competitiveness ADX offers to the listed companies," he said. Al Blooshi added, "The stable trading environment, in conjunction with the innovative services and products offered by ADX has attracted new institutional investments to the Exchange where the number of institutional investors by end of August 2018 reached 7,993 institutions of which 5,979 are foreign institutions and 2014 are domestic institutions. While net institutional investment from beginning of year up to end of August 2018 reached AED1.4 billion. At the same time, the cash dividend distributed by listed companies during 2018 amounted to AED23.4 billion in comparison to AED22.2 billion during 2017, which is an increase of 5.5 percent. In addition, the top 25 asset management companies in terms of assets under management are registered on ADX and actively investing, where ADX has 350 of the largest international pension funds operating in the Exchange." Furthermore, ADX is working on developing and launching strategic initiatives aimed at increasing the market capitalization and products, to attract and activate a larger group of investors. These results in general emphasise ADX adherence on the best practices in the field of investment in financial securities, and in the field of the disclosure, transparency and corporate governance. As part of the its objectives of diversifying its sources of income, the company's investment portfolio includes core holdings in blue chip institutions across diversified industry verticals both at the regional and international levels, as well as investments in private companies, investment funds, and fixed-income securities with the aim of maximizing return on investment. |
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