Arqaam Capital expects that the UAE market will witness changes this November in the shares of its companies listed on the MSCI Emerging Markets Index.
Noaman Khaled, an economic analyst at Arqaam Capital, said that one of the most prominent changes was that the shares of “Abu Dhabi Islamic” and “Emirates Aramex” for transport services joined the index during this month. He expected Abu Dhabi Islamic share to join the large index within the index, to attract $ 106 million, while Aramex expected to join the small index to attract $ 6 million.
He added that attracting more Emirati shares is linked to a decision by the companies themselves, which is to increase the percentage of foreign ownership allowed. The total value of the companies listed on the index is about $ 1.6 trillion.
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