Some 15 new companies are expected to be listed on the Abu Dhabi Securities Market (ADSM) in 2006, significantly increasing the market’s liquidity. The new listing will bring the number of companies on the market to between 68 to73, as there are currently 58 listed.
"I think there will be at least 10 to 15 new listings next year," a spokesman for the ADSM said.
"We have a long list of companies, mostly local but some foreign, that want to list on Abu Dhabi Securities Market. We are looking at providing a diverse set of companies for investors here," he added, according to <i>Gulf News</i>.
Senior capital markets analyst at Zawya.com, Lama Abou Ghali, stated that the in addition to an increased number of listings on the ADSM, the caliber of companies would also increase and be more diverse in the future on the market.
"Investors would have a more mature market to invest in as only companies with a proven track record would be allowed to list. We would also see a large IPO culture and private equity as well," he added.
Recently many Middle Eastern markets have been criticized for their slow pace of increasing liquidity and the number of companies listed.
