Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, has listed Reem Investments PJSC shares on the second market, a market dedicated for trading of shares of private companies, under the symbol “REEM”. Trading on Reem Investments shares officially started on Sunday, September 30 of the current year.
Incorporated in 2005, Reem Investments a leading investment company in the Emirate of Abu Dhabi, is a diversified group engaged in the business of real estate and investment. and with a net asset value of AED 5.4 billion.
Since inception, Reem Investments has played an integral part in line with Abu Dhabi Vision 2030 plan. The company has also demonstrated an excellent track record in consistently rewarding the shareholders as it has distributed 130% of the original capital since incorporation.
Speaking at the landmark occasion on the listing of the company's shares on Abu Dhabi Securities Exchange, Mr. Abdulhamid Mohammed Saeed, Managing Director, said, "Today marks a new chapter in the company's history. The listing of the company's shares on Abu Dhabi Securities Exchange, a market that is known for its growth and efficiency, will enable Reem Investments to embark on the next leg of growth story with wider shareholder participation while continuing to invest in vital sectors that drive sustainable development in the region and in the process ensuring best returns for our shareholders.. This major step also re-iterates our commitment to transparency which is at the core of the company’s value system”.
"We would also like to avail this opportunity to extend our sincere thanks and appreciation to the Securities and Commodities Authority and to Abu Dhabi Securities Exchange for their continuous cooperation which has resulted in the smooth completion of the listing process," he added.
Mr. Rashed Al Blooshi, Chief Executive of ADX, welcomed the commencement of trading of Reem Investments shares on ADX’s second market. Al Blooshi said: “Listing the shares of Reem Investments on ADX’s Second Market confirms our position as a preferred listing destination and reflects the high levels of international competitiveness ADX offers to the listed companies.”
Al Blooshi added: “The stable trading environment, in conjunction with the innovative services and products offered by ADX has attracted new institutional investments to the Exchange where the number of institutional investors by end of August 2018 reached 7993 institutions of which 5979 are foreign institutions and 2014 are domestic institutions. While net institutional investment from beginning of year up to end of August 2018 reached AED 1.4 billion. At the same time, the cash dividend distributed by listed companies during 2018 amounted to AED 23.4 billion in comparison to AED 22.2 billion during 2017 which is an increase of 5.5%. In addition, the top 25 asset management companies in terms of assets under management are registered on ADX and actively investing, where ADX has 350 of the largest international pension funds operating in the Exchange.
Furthermore, ADX is working on developing and launching strategic initiatives aimed at increasing the market capitalization and products, to attract and activate a larger group of investors. These results in general emphasize ADX adherence on the best practices in the field of investment in financial securities, and in the field of the disclosure, transparency and corporate governance.
As part of the its objectives of diversifying its sources of income, the company's investment portfolio includes core holdings in blue chip institutions across diversified industry verticals both at the regional and international levels, as well as investments in private companies, investment funds, and fixed-income securities with the aim of maximizing return on investment.
Reem Developers, the fully-owned subsidiary and real estate arm of Reem Investments, is making its mark on the Abu Dhabi real estate landscape with prime projects, such as Najmat on Reem Island and Rawdhat along Airport Road, comprising a total of about 60 million sq. ft. of GFA.
In addition, Reem Developers is constructing several residential projects that are expected to add 1850 housing units over the next five years in the Najmat and Rawdhat Projects. On completion, these ‘Build to Lease’ projects would substantially enhance the rental income of the existing property portfolio.
Abu Dhabi Securities Exchange (ADX) opened its Second Market in 2014 as per the guidance of his highness Shaikh Mohammed bin Rashid Al Maktoum The Vice President and Prime Minister of the United Arab Emirates, and The Ruler of Dubai, in a step toward support the building of a sustained and integrated economy with complementary among all sectors. Reem Investments is the fifth company listed on ADX’s Second Market which currently has four companies.
