Abu Dhabi Securities Market to turn into public joint stock company
ADSM move could be a precursor to a possible merger play
Abu Dhabi: Abu Securities Exchange (ADX) will soon be listed as a public joint stock company, signaling a possible upcoming merger.
“I think this announcement is the start of the first step into structuring ADX in a way to become applicable for a possible merger with Dubai Financial Market,” said Tariq Qaqish, financial advisor.
“In general, if the merger is going to happen, I think it will be positive for the market and the economy. From the market side, it represents a strength of the economy, and now you will have a stronger entity with one regulation, one process and one stream of operations.
“This makes everything easier for investors and institutional money to deal in the UAE.”
Qaqish said the move could also help with upgrading the UAE’s status from an emerging to a developed economy.