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ADX Achieves 97% in Disclosure Compliance of 2nd Quarter Financial Statements 2019 |
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Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 97% regarding the disclosure of the 2nd quarter financial statements 2019 of its listed public joint stock companies, domestic and foreign, within the deadline of 45 days from the end of the financial period. 62 out of 64, local and foreign, public listed companies disclosed their 2nd Quarter financial statements for 2019 within the 45 days period given. It is worthy to note that the Energy Sector witnessed an increase in profit with 20.41%, followed by the Services Sector with a profit increase of 18.72% On this occasion, ADX stated that the collaboration between the Exchange and its listed companies has always proved to be a productive one. Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). In 2014, ADX was upgraded to ‘Emerging Market’ status by both MSCI and S&P Dow Jones. ADX was already classified as an Emerging Market by FTSE in 2009 and in 2011 by S&P and Russell Investments. |
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