Abu Dhabi bourse to list big private firms to lure investors

The Abu Dhabi stock exchange is looking to list some of the emirate's large private companies to help boost liquidity on the bourse and ensure its benchmark index better reflects the economy, its chief executive said on Tuesday.

Roadshows for the listings are planned later this year in the Gulf and in London to attract more investors into Abu Dhabi, Rashed al Baloushi, chief executive of Abu Dhabi Securities Market (.ADX), told reporters.

"These companies are exactly like public joint stock companies but are wearing the hat of private companies. So why can't they be listed and the index will be more realistic," Baloushi said.

The new firms will be listed as Tier-2 stock without the need for initial public offerings (IPO), Baloushi said but did not give further details. Discussions were underway with the market regulator and he expected an approval to be given.

Read more: http://www.arabianbusiness.com/abu-dhabi-bourse-list-big-private-firms-lure-investors-491061.html