Foreign investors accounted for 42.4% of DFM trade value with net in-flow of AED 3 billion since the beginning of 2014
Dubai Financial Market (DFM) is holding its second International Roadshow of 2014 on Monday 13th and Tuesday 14th of October in New York with co-sponsorship from the Bank of America Merrill Lynch (BAML), following the success and excellent feedback received from its most recent International Investor Roadshows in New York last year and in London in April 2014, and from increased investor appetite towards the market.
The event brings together 12 companies listed on DFM and NASDAQ Dubai, as part of DFM’s efforts to regularly offer listed companies the opportunity to showcase their growth and strategy, noting that DFM has pioneered this idea amongst regional exchanges when it started organizing global conferences for investors in New York and London in 2007.
DFM is witnessing thriving activity since the beginning of this year as the daily average value has jumped 210% to AED 1.7 billion compared to AED 547 million during the same period of 2013. The DFM General Index is up 51% year to date. DFM has attracted 21170 new investors during the first eight months of 2014 compared to 19311 investors during the same period of 2013, a growth of 10% which signals investors’ confidence in DFM’s diversified and lucrative investment opportunities, as well as its ability to sustain growth.
His Excellency Essa Kazim, Chairman of DFM Company, will lead a high level delegation of 18 CEOs, CFOs and investor relations managers of 12 listed companies who will have the opportunity to update international institutional investors on the recent successes and prospects of their respective companies. Participating companies in the event include; Emaar Properties, Emirates NBD, DP World, Shuaa Capital, Dubai Investment Company , Drake and Scull, Mashreq Bank, Union Properties, Emirates REIT, DFM Company, Arabtec Holding and Emaar Malls, which is currently carrying out its IPO and plans to list on DFM early October.
His Excellency Essa Kazim, Chairman of DFM Company, said: “The DFM International Roadshow in New York is well-timed in view of the mounting pace of positive developments including; restoring the momentum of IPOs and the thriving market activity in the course of significant interest from local and international investors towards DFM, as well as the enormous success and the noticeable success of our recent roadshows in New York and London. In fact, this underlines the strong growth of the market, listed companies and the national economy in general. The Roadshow will provide an important platform to strengthen the relation between listed companies and international fund managers through series of one-on-one and smaller group meetings. We are confident that the forthcoming event in the US will see huge turnout considering the prevailing buoyant developments and the gigantic presence of listed companies as well as international institutions during our most recent roadshow in London, April 2014.”
It is noteworthy that the DFM total trade value has jumped 236.2% to AED 292.8 billion, while foreign investors accounted for 42.4% of trade value with net in-flow of AED 3 billion Year to date.
Arshad Ghafur, President Middle East and North Africa of Bank of America Merrill Lynch said: “The DFM is one of the best performing Emerging Market bourses in 2014 and Bank of America Merrill Lynch remains committed to directing international investors to DFM listed companies. Our focus on both the DFM primary and secondary markets is stronger than ever and evidenced by our leading market position”
Talal Ghandour, Head of Equities, Middle East and North Africa, at Bank of America Merrill Lynch said: “We are very pleased to hold the Dubai Financial Market international investor Conference in New York for the second year running. With the recent MSCI upgrade of the UAE to Emerging Markets status, we are witnessing increased demand and international investor interest in meeting with corporates from the region. This event is key in allowing senior representatives from both the Dubai corporate sector and our institutional investors, to communicate and discuss the specific investment cases.