ADX-listed firms' market cap hits Dh526 billion

The market cap of companies listed on the Abu Dhabi Securities Exchange reached Dh526 billion by the end of August, with an increase in the ADX general index by 13.4 per cent from the start of 2018.

By the end of August sessions, the market capitalisation of domestic public companies listed on the ADX increased to Dh495 billion compared with Dh461 billion from the beginning of the year; an increase of 7.5 per cent. In the meantime, the market capitalisation of private listed companies on ADX reached Dh7 billion, compared to Dh2.8 billion from the beginning of the year, an increase of 145 per cent.

By the end of the August 30 session, the market capitalisation of foreign public companies listed on ADX reached Dh24 billion; bringing the total market capitalisation of domestic, foreign and private companies listed on ADX to Dh526 billion.

Rashed Al Blooshi, chief executive of ADX, said: "Continuing efforts towards the accomplishment of the organisational structure and modernisation of working mechanisms and trading systems made the ADX a magnet for domestic and foreign institutions during the recent period. Thus, ADX achieved this remarkable growth in its general index, the market capitalisation of listed companies, the company profit and the value of cash dividends distributed to companies' shareholders."

Al Blooshi said the number of investment institutions that entered the exchange during the first half of this year amounted to 271, bringing the number of domestic and foreign investment institutions operating on the exchange to more than 7,900, where 2,008 are domestic and 5,913 are foreign.