(MENAFNEditorial) The Dubai Financial Market (DFM) International Investor Roadshow in New York has been successfully concluded on Tuesday, October 14th, 2014. The event was organized with co-sponsorship from the Bank of America Merrill Lynch (BAML), amidst enormous investor appetite towards the market. Over 228 one-on-one meetings were held between fund managers, institutional investors and senior representatives from listed companies on the DFM and NASDAQ Dubai.
The event enabled CEOs, CFOs and Investor Relations managers of the listed companies to connect with representatives of major international investment funds and showcase success stories, achievements and most recent developments of their respective companies. The list of participating companies included; Emaar Properties, Emirates NBD, Shuaa Capital, Dubai Investment Company , Drake and Scull, Mashreq Bank, Union Properties, Emirates REIT, Emaar Malls, Arabtec and DFM Company.
Commenting on the outcome of the roadshow, His Excellency Essa Kazim, Chairman of DFM, said:"We are delighted to see this wonderful outcome of DFM International Investor Roadshow in New York achieving, as these roadshows constantly reaffirm the prominent position of DFM and its listed companies amongst the international institutions based on the strong and sustainable performance of the national economy which has grown 4.2% per year on average since 2010 and is expected to grow with a higher pace of 4.5% - 5% over the next few years. This has left its positive implications on the superior performance of the listed companies as well as the upgrades and classifications of the UAE amongst the international emerging markets by leading index providers such as Morgan Stanley Capital International (MSCI) and (S & P Dow Jones)."
"New York - based international investors have shown great interest to meet the representatives of Dubai-listed companies, hence, the roadshow has seen tremendous attendance of institutions and emerging markets funds which is increasingly attracted to our market particularly after it has been classified as emerging market. 228 one-on-one meetings took place with representatives of 38 leading investment funds which provide the clearest evidence on the success of this event and the funds' enthusiasm to deepen their knowledge about our listed companies. DFM will continue to provide listed companies with such unique opportunities to connect with leading institutional investors and showcase success stories, achievements, latest developments which enable investors to identify investment opportunities on Dubai capital market and further support our efforts to attract international investors and diversify investor base of these companies".
It is noteworthy that DFM activity is keeping its growing pace and momentum with its General Index up 40% year to date and average daily trading value up 183% to AED 1.65 billion clearly indicate local and international investors' demand and confidence in the market.
Listed companies' representatives praised the outcome of this roadshow reaffirming its importance as an ideal platform to showcase growth strategies of their respective companies.
Nasser Rafi, Chief Executive Officer of Emaar Malls said: "Closely following the successful listing of Emaar Malls on the Dubai Financial Market, our participation in DFM's New York roadshow provides us with a strong platform to highlight our key differentials and value-creation model to international investors. The Emaar Malls IPO, which set a new benchmark for the UAE capital markets, received overwhelming response from blue-chip international investors leading to an order book which was oversubscribed over 30x at the top end of the price range for the institutional tranche and over 20x for the individual tranche.
"We will highlight the long-term value that we are committed to creating for our investors by leveraging the positive performance of Dubai's economy and its growth drivers. With retail accounting for nearly 30 percent of Dubai's GDP, Emaar Malls is firmly positioned at the forefront of the industry to drive sustained growth through our assets including The Dubai Mall, the world's most-visited retail and lifestyle destination."
Ahmad Al Marri, General Manager, Union Properties:"Our participation in the DFM International Investor Roadshow in New York was successful as we met foreign investors and briefed them on the projects Union Properties PJSC intends to develop in addition to the facilities provided by the government to investors such as social, health, and education services, etc. We highlight that this conference will increase the confidence of international investors in the performance of the financial market in Dubai and such conference is a mechanism for networking between investors and senior management of listed companies in the financial market which enhances the durability of the economy in Dubai.
Shayne Nelson, Emirates NBD Group CEO said: 'We are very pleased to be once again associated with this DFM initiative. For both issuers and investors this roadshow presents an effective platform to update investors on company performance and discuss the outlook for the region and the issuer. The fact that this DFM International Investor Roadshow in New York is being repeated in 2014 underlines the value that it generates both for issuers and investors.'
Zeina Al Tabari, Chief Corporate Affairs Officer, Drake & Scull International said: "DSI welcomes collaboration opportunities with the DFM to interact with our existing and potential shareholders, as part of our transparent two way communication mechanisms. The DFM roadshows are an important part of DSI's calendar, as they allow us to address the global investing community that is increasingly discerning and looking toward the GCC and the UAE in particular as markets with untapped potential and promise. Our 133 year legacy of delivering projects across Western and Eastern Europe, the GCC, Greater Middle East, North Africa, South and East Asia adds to our value proposition and helps us to generate value for our stakeholders."
Arshad Ghafur, President MENA, Bank of America Merrill Lynch said: "The strong level of engagement with international investors during the DFM Roadshow and the outstanding success of the recent Emaar Malls IPO, underscores the DFM's unique position in the global equity markets. We are proud to partner with the DFM in directing the attention of the global investor community to DFM listed companies."
Talal Ghandour, MENA Head of Equities at Bank of America Merrill Lynch said: "The capital markets in Dubai continue to develop at a steady pace and events such as this present a highly effective way for locally-listed corporates to discuss the investment opportunities available to international investors. It was a pleasure to co-host such a successful event with the Dubai Financial Market (DFM) and to showcase the DFM and NASDAQ Dubai-listed entities. We look forward to working with the DFM on similar events in the future."
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