Oman and Emirates Investment Holding Company lists its shares on ADSM

Abu Dhabi Securities Market (ADSM) listed today (Thursday December 28, 2006) the shares of Oman and Emirates Investment Holding Company. A ceremony was held in ADSM to mark this occasion and was attended on behalf of the company by Mr. Awad Bamakhalef, CEO, Mr. Jassem Mubarak Masoud, Deputy CEO, Mr. Mustafa Bakeer, Internal Audit & Compliance Manager, and Mr. Saeed Al Khorousi, Senior Administration Officer. On behalf on ADSM attended Mr. Rashed Al Baloushi, Acting Director General, and other top executives.

By listing the shares of Oman and Emirates Investment Holding Company, the total number of listed companies in ADSM has become 60. All the market’s companies are classified under nine sectors, including the Banks and Financial Services sector (17), the Real Estate sector (3), the Energy Sector (2), the Consumer sector (8), the Construction sector (8), the Insurance sector (12), the Telecommunication sector (4), the Industrial sector (4) and the Health Care sector (2), in addition to the Debt Instruments (2).

Oman and Emirates Investment Holding Company is the first Omani company listed in the UAE.  It is a holding company and was established in 1993 to reflect the unique relationship between Oman and the UAE and to enhance both economic and social projects in the two countries.  Investments include Dhofar Fishing Industries, Omani European Food Industries and Oman Health Projects.  The company also invests in the capital markets of both Oman and the UAE.

Since the end of 2001 the number of listed companies traded on ADSM has grown fourfold; there are now nearly six times as many brokerage firms; the aggregate market capitalisation of companies traded on the exchange is 20 times higher; there are 50 times as many shareholders registered and ADSM is a model emiratisation employer with UAE nationals making up about 74% of staff.