ADX Listed Companies' Market Cap Rises to $132 Billion in 2017
The market capitalisation of companies listed on the Abu Dhabi Stock Exchange (ADX) went up 2.1 percent in 2017, from AED 475 billion ($129 billion) to AED 485 billion ($132 billion).
In a report issued on Saturday, ADX said that the market cap on listed domestic firms rose to AED457 billion ($124 billion), a 2.62 percent increase from 2016’s AED 444 billion ($120 billion).
The Abu Dhabi Securities Exchange General Index closed at 4,398 points at the end of 2017, a 3.25 percent decrease from its 2016 level.
The total value of transactions during 2017 amounted to AED 48 billion ($13 billion) over 28 billion shares, an average of 112 million equities per day.
Source: Arabian Business
Abu Dhabi Securities Exchange
Abu Dhabi Securities Exchange (ADX) was established on 15th of November 2000 by Local Law No. (3) of 2000, the provisions of which vests the Market with a legal entity of autonomous status, independent finance and management, and gives ADX the necessary supervisory and executive powers to exercise its functions.
Moreover, ADX has the authority to establish centers and branches outside the Emirate of Abu Dhabi, and so far it has done so in Al Ain, Zayed City, Fujairah, Ras Al Khaimah and Sharjah.
ADX's board of directors is comprised of seven members nominated by Amiri Decree. The members of the board hold office for a term of three years. The first board of directors was constituted by Amiri Decree No. (8) of 2000.
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