The Middle East Investor Relations Society (ME-IR Society) has officially announced the launch of its Abu Dhabi Chapter, hosted at the Abu Dhabi Securities Exchange (ADX). This is the sixth ME-IR Society Chapter launched this year so far, following initiatives launched in Qatar, Palestine, Kuwait, Dubai and Oman.
The Chapter will be chaired by the Head of Listed Companies at ADX; Saif Sayah Al Mansouri and also includes representatives from other companies listed on the ADX including Abu Dhabi Commercial Bank, Agthia, First Gulf Bank, National Bank of Abu Dhabi and TAQA.
ME-IR Society Founding members of the informal board will include representatives from BNY Mellon and Rothschild.
The aim of the Chapter will be to work to improve the quality of investor relations practices in Abu Dhabi, to establish a solid networking platform and enhance the reputation, efficiency and attractiveness of both public and private firms in the Capital.
Mr. Saif Sayah Al Mansouri, head of Listed Companies at ADX said: “ADX is committed to supporting listed companies in Abu Dhabi in improving their investor relations practices as we believe that this will benefit the individual companies, the overall business environment in Abu Dhabi and subsequently the UAE as a whole. We are very pleased to have initiated the launch and look forward to working closely with the other founding members as well as the Society in driving IR development.”
Paul Reynolds, Chairman of the ME-IR Society said: “The ME-IR Society is delighted to be launching the Abu Dhabi Chapter. We have witnessed a fantastic year of development and growth for the Society; launching six chapters, achieving training milestones whilst expanding our outreach to over 18 countries. We are sincerely grateful for the support we have received from ADX in forming the Abu Dhabi Chapter and are very pleased that the importance of IR is increasing recognised by senior management and Exchanges across the region.”
The Abu Dhabi Chapter Board will convene on a quarterly basis and work with the ME-IR Society to organize workshops and host annual conferences in line with the Society’s other chapters in Dubai, Qatar, Kuwait, Oman and Palestine. Utilizing Chapter feedback the ME-IR Society will provide practical assistance to companies through education programs, conferences and by sharing IR studies, documents and surveys.
The Abu Dhabi Chapter confirmed that there will be an IR conference taking place along with two CIRO training days in Abu Dhabi in Septermber. More information about this will be announced shortly.
The ADX, established in November 2000 as the official stock exchange of the emirate of Abu Dhabi, serves the domestic cash equity market and has 69 listed Securities and a market capitalisation of Dhs276 billion ($75.2 billion) as on April 30, 2012.
ADX launched the first Exchange Traded Funds (ETFs) trading platform in the Arabian Gulf region by listing National Bank of Abu Dhabi’s “OneShare Dow Jones UAE 25 ETF”.
In alignment with the Abu Dhabi Government’s Economic Vision 2030, ADX aspires to become the leading stock exchange in the Gulf region by leading the development of the UAE capital market through a well-regulated marketplace in a lawful environment that ensures integrity, transparency and disclosure. Investors can trade securities listed on ADX through any of its registered brokers and ADX has custody agreements with HSBC, National Bank of Abu Dhabi, Standard Chartered Bank, Deutsche Bank and Citi Bank.
The Middle East Investor Relations Society is an independent, not-for-profit organisation with membership open to all IR, financial communications, and capital markets professionals throughout the Middle East region. The ME-IR Society is a platform for the sharing of best IR practices between IR professionals who are focused on providing clear consistent and timely information to the regional and international investment community.
The Society’s objectives are to promote excellence in investor relations through executive training, professional qualifications, seminars and network events, working in partnership with stock exchanges, regulatory bodies and market professionals in the region.