eToro has added stocks from the Abu Dhabi Securities
Exchange (ADX) to its platform. This follows an agreement signed in 2023
between ADX and eToro to expand investor access to UAE-listed companies.

More than 30 ADX-listed companies are now available on
eToro. These companies operate in sectors including energy, real estate,
banking, technology, and healthcare. The exchange’s total market capitalization
exceeds $700 billion.

ADX IPOs Hit $3.35 Billion in 2024

“We are excited to enable our global users to diversify
their portfolios with access to leading companies in the UAE, while also
empowering local investors to invest in businesses they know and trust,” George
Naddaf, Managing Director MENA, eToro said.

ADX ranked as the seventh-largest emerging market exchange
in 2024. Its market capitalization reached $799 billion. It was among the top
five exchanges globally for IPO proceeds, raising $3.35 billion. This accounted
for 27% of IPO proceeds in the Middle East and 54% within the UAE. The number
of listed securities increased to 187, with 28 new listings.

“The first batch of stocks we are adding to our
platform represents approximately $713 billion in market cap, covering nearly
88% of the exchange’s total market cap of $818 billion,” Naddaf added.

ADX Derivatives Market Sees 154% Growth

Total trading value on ADX reached AED 342 billion, a 7%
increase from 2023. Net foreign investment rose to AED 24 billion. Foreign
investors made up nearly 40% of trading activity, with a trading value of AED
262 billion.

Institutional investors contributed to 80% of total trade value.
The derivatives market saw a 154% increase in trades. ADX is among the world’s top 20 exchanges and the
second-largest in the Middle East.

eToro Awaits SEC IPO Review

Meanwhile, eToro
Group has submitted a confidential draft Registration Statement on Form F-1
to the US Securities and Exchange Commission (SEC) for a planned initial public
offering (IPO) of ordinary shares. The number of shares and price range have
not been disclosed.

The IPO will proceed after the SEC completes its review,
subject to market conditions and other factors. No timeline has been set, Finance Magnates reported.

The company issued a press release under Rule 135 of the
Securities Act of 1933, stating that it does not constitute an offer or
solicitation to buy securities, which will be conducted per registration
requirements.

This article was written by Tareq Sikder at www.financemagnates.com.

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