AD Ports Group, the operator of industrial cities and free zones in Abu Dhabi, will be included within the FTSE ADX General Index and the FTSE ADX Industrials Sector Index following a review.
The addition is expected to be effective from March 21, 2022, the Abu Dhabi Securities Exchange said in a statement on Monday.
The inclusion comes after ADX completed the first ever review of the FTSE ADX Index series under its partnership with FTSE Russell. Through the partnership, the Abu Dhabi bourse will develop co-branded indices to bring its stock performance measures in line with global standards.
The FTSE ADX General Index replaced the ADX General Index and FTSE ADX sector indexes took the place of the existing sector indexes on January 10.
The move is expected to support the development of the recently launched ADX derivatives market.
“ADX is working closely with FTSE to develop new indices with the aim of supporting the exchange’s index products category including the recently launched derivatives market, enhancing the breadth of tradable index products and bringing the exchange’s stock performance measures in line with global standards,” the Abu Dhabi bourse said.
AD Ports Group raised $1.1 billion from its listing on the ADX earlier this year, continuing the bourse's momentum from last year when the second-largest stock market in the Arab world by market value saw many high-profile listings.
Multiply Group, a subsidiary of Abu Dhabi's International Holding Company (IHC), listed its shares in December, making it the eighth IHC subsidiary to enter the emirate’s main market in less than a year.
In October, Fertiglobe, the world’s largest seaborne exporter of urea and ammonia combined, raised about $795 million from its listing on the ADX. That offering followed Adnoc Drilling, which reaped $1.1bn from its listing in the same month.
In July, Yahsat, a unit of Mubadala Investment Company, raised about $730m through its listing.
