Dubai Financial Market, DFM, is to hold its International Roadshow on October 19th – 20th in New York with the co-sponsorship of Bank of America Merrill Lynch. The roadshow will enable listed companies to inform international fund managers about growth strategies and recent developments.
DFM launched its series of international roadshows in New York and London in 2007 in a pioneering step amongst regional exchanges, and the return of DFM’s roadshow to New York will further strengthen links with international investors.
Senior executives from 13 companies listed on DFM and Nasdaq Dubai will participate in the roadshow. The high-level delegation of 18 CEOs, CFOs and investor relations managers of listed companies, led by Essa Kazim, Chairman of DFM Company, will have the opportunity to update investors in the USA on the recent successes and prospects of their respective companies.
Mr. Kazim said, "Foreign investors’ constant and significant participation on DFM provides a strong indication of the quality and diversification of investment opportunities that the market offers, as well as its ability to achieve sustainable growth. Foreign investors’ share of DFM trading value has increased to 47.7% year-to-date compared to 42% during the same period of 2014, with net in-flow of AED 629 million. We are regularly organising such events in order to further strengthen foreign and institutional investments on our market and attract more liquidity. The roadshow offers listed companies the opportunity to deepen links with key international fund managers, and this drive gains further impetus with MSCI’s classification of the United Arab Emirates as an Emerging Market."
He continued, "Similar to previous events, we firmly believe that the upcoming roadshow will attract a significant presence from international fund managers in the USA, as a result of our national economy maintaining its strong performance with almost 5% annual growth, as well as DFM’s world class infrastructure and the available opportunities through companies operating in diversified and rapid growing sectors."
Arshad Ghafur, President Middle East and North Africa of Bank of America Merrill Lynch, said, "The DFM remains a focal point for global investors that are looking to gain access to markets across the Middle East. Bank of America Merrill Lynch remains committed to both the DFM primary and secondary markets, as evidenced by our leading market position in the region."
Talal Ghandour, Head of Equities, Middle East and North Africa, at Bank of America Merrill Lynch, said, "Dubai equity markets continue to attract international investor interest. We continue to see increased demand from our institutional clients to meet with corporates from the region, in spite of the recent turmoil in Emerging Markets broadly."
Foreign investors own 17% of the market capitalisation of companies listed on DFM with a total value exceeding AED 56 billion.