Finance House to channel Dh300m after deal with ADX
Deal with ADX will see funds help with raising more liquidity
Dubai: Abu Dhabi based Finance House is to pump in Dh300 million into the UAE capital markets after an agreement with ADX. These funds will be directed through Finance House Securities, with the ‘aim of boosting equity market liquidity’.
"The market's successive achievements, overseen by the Abu Dhabi Securities Exchange (ADX), are essential for driving economic growth and sustainable development in the UAE,” said T.K. Raman, CEO of Finance House. “This fosters investor confidence and stimulates broader economic activity."
ADX had seen the listing of NMDC Energy and this week will add ADNH Catering. Then follows the much anticipated one from LuLu Retail.
In the year to date, the average traded value on the ADX has been $296 million, according to Kamco Invest. The index is down 3% during the period. While DFM is lower by 1.7%.