Will Etihad Airways List and Mashreqbank up 50%

Author

Marc Samouilhan
July 25, 2024

Market Pulse

TODAY'S INDEX (FADGI): 9289.39 ⬆️ 0.28%
TODAY'S INDEX (DFMGI): 4234.7 ⬆️ 0.143%
Gold trading at $ 2371
Brent @ $ 81.93

Latest Listings you may have missed

  1. Spinneys:

    • Successfully listed on the Dubai Financial Market (DFM) in May 2024.

    • Raised AED 1.38 billion ($376 million) and achieved significant demand from both international and regional investors​​.

  2. Alef Education:

    • Floated in mid-June 2024 on the Abu Dhabi Securities Exchange (ADX).

    • Raised AED 1.89 billion ($514 million) and is focused on providing AI-powered learning resources across multiple countries​​.

  3. Agility Global:

    • Listed on ADX on May 2, 2024.

    • The company's shares surged, reflecting a market value of about AED 16.46 billion ($4.48 billion)​​.

  4. Parkin Company:

    • Raised $429 million in March 2024, marking the UAE’s first IPO of the year on the DFM​​.

  5. Drake & Scull International (DSI):

    • Returned to the DFM in March 2024 after a five-year hiatus following a court-approved restructuring plan​​.

Upcoming Listings

  1. Etihad Airways:

    • Potential IPO planned for 2024, aiming to raise up to $1 billion.

    • The company has been preparing by improving its financial transparency and governance​​.

  2. LuLu Group:

    • Expected to list on ADX in the second half of 2024.

    • Plans to raise as much as $2 billion and expand its operations significantly​​.

Market Smart Picks

Here are some of the top-performing stocks on the Abu Dhabi Securities Exchange (ADX) based on recent data:

  1. International Holding Company (IHC):

    • Performance: IHC remains one of the top performers with a market cap of AED 900.2 billion, showing a 3.9% increase over the past year.

    • Sector: Capital Goods

    • Key Insights: Known for its diversified portfolio across various sectors, including real estate, healthcare, and industrials​​​​.

  2. Aldar Properties:

    • Performance: Aldar Properties has seen a 36% increase over the past year with a market cap of AED 55.5 billion.

    • Sector: Real Estate Management and Development

    • Key Insights: Aldar is a significant player in the UAE real estate market, benefiting from the country’s focus on economic diversification and urban development​​​​.

  3. Mashreqbank PSC:

    • Performance: Mashreqbank has increased by 47.9% over the past year, with a market cap of AED 42.7 billion.

    • Sector: Banks

    • Key Insights: This bank has shown robust performance, reflecting the strength of the UAE’s financial sector​​.

  4. Abu Dhabi Commercial Bank (ADCB):

    • Performance: ADCB has seen a slight decline of 1.7% over the past year but remains a strong performer with a market cap of AED 62.9 billion.

    • Sector: Banks

    • Key Insights: Known for its solid financials and consistent performance, ADCB continues to be a significant player in the UAE banking sector​​​​.

  5. ADNOC Gas:

    • Performance: Despite a 10.5% decline over the past year, ADNOC Gas remains one of the largest companies by market cap at AED 243.3 billion.

    • Sector: Energy

    • Key Insights: The company's substantial market presence and strategic importance in the energy sector make it a key stock to watch​

DISCLAIMER: This information is prepared by Market Smart and uses public and reliable sources. Market Smart nor any of its directors, isn't liable for its content or use. It's not intended as investment advice or a solicitation to trade financial products.