Abu Dhabi exchange targets Asian listings
Dubai, November 6, 2008
The Abu Dhabi Securities Exchange (ADX) is keen to attract dual listings from Asia, rather than the West, its chief executive said, as Gulf Arab bourses try to boost liquidity on young markets.
Tom Healy told Reuters Middle East Investment Summit the ADX saw more opportunities in attracting Asian newcomers to the market rather than simply getting a secondary listing from a firm already listed on Western stock markets.
'We have been talking to banks, trying to attract secondary listings probably Asian side rather than west,' he said.
The pursuit of Asian listings is one of several measures being taken by bourses in the region to attract more players, including the launch of derivatives, futures and options trading.
The Abu Dhabi Securities Exchange has delayed its planned launch of exchange-traded funds (ETFs), originally targeted for the end of 2008, to the first quarter of 2009 given the current market climate, Healy said.-Reuters