London Stock Exchange, Deutsche Bank, Amman Stock Exchange, Al Mawared Brokerage Conference on Depositary Receipts

Monday, March 6, 2017

London Stock Exchange and Deutsche Bank in partnership with Al Mawared Brokerage are holding a conference on Depositary Receipts on Monday March 13, 2017 at the Jordan Capital Markets premises, in cooperation with The Amman Stock Exchange (ASE). The Jordan Securities Commission (JSC), the capital markets regulator, recently issued new regulations regarding the issuance, listing and trading of Depositary Receipts.

Experts and senior managers from London Stock Exchange and Deutsche Bank will discuss opportunities for Jordanian public shareholding companies to issue Depositary Receipts and list them on London Stock Exchange. London Stock Exchange has become the venue of choice for the listing and trading of Middle East and North Africa companies seeking to raise capital, attract international investors and increase international awareness of their brands and businesses.

Commenting on London Stock Exchange’s involvement in the conference, Mr. Tom Attenborough, Head of Large Cap Primary Markets, said ”London Stock Exchange has a long history of supporting companies from the region. There are 37 Middle East and North Africa companies with a combined market capitalization of US$66 billion listed in London. We are excited by recent developments in Jordan’s securities regulations and believe that there is an excellent opportunity to work in partnership with the Amman Stock Exchange to showcase Jordanian companies to the international investor base that London attracts.”

Deutsche Bank’s ongoing efforts to develop new financial products serving the capital market needs of the Middle East and North Africa region includes promoting Depositary Receipts. The resultant access to sophisticated investors worldwide also helps drive liquidity in the home market for the shares of companies engaged in a Depositary Receipt program, an added benefit to all stakeholders.

Deutsche Bank’s Mr. Peter Gotke, Director and Head of Product Development, Depositary Receipts, commented: “The global capital markets have welcomed many of the MENA region’s leading companies, and both investors and issuers continue to see Depositary Receipts as providing a key route to listing and raising capital on key exchanges, including London. Global Depositary Receipts provide access to new pools of investment, and broaden the participation of global investors, thereby allowing issuers to impact their valuation, and local marketliquidity.”

The CEO of the Amman Stock Exchange, Mr. Nader Azar said that the ASE has recently been transformed into a public shareholding company fully owned by the government of Jordan. Currently the ASE has several strategic initiatives underway. These include implementing a new electronic trading system, introducing a new surveillance system, implementing an XBRL disclosure system for listed companies and brokerage firms, as well as launching a co-branded index for the ASE. In addition to that, the ASE will organize roadshows for Jordanian companies, and working with the JSC and all parties to assist in upgrading the ASE classification to an Emerging Market.

Al Mawared’s CEO, Ms. Hana Harasis, highlighted Depositary Receipts as an opportunity for Jordanian companies to benefit from the deep liquidity pool at London Stock Exchange as well as the international exposure that comes with such a listing.

ASE Summary as of 08/04/2021

MARKET SUMMERY

Value
Trading Value (JDs mil) 6.7
Trading volume (mil) 7.6
No. of Transactions 2980
No. of Securities 89

TOP 5 GAINERS

Symbol Last % Chg
JNTH 0.85 4.94
JPPC 4.09 4.87
UCIC 0.45 4.65
ICMI 1.18 4.42
NAQL 0.24 4.35

TOP 5 LOSERS

Symbol Last % Chg
JOPH 8.78 -4.98
UCFI 0.58 -4.92
ARGR 0.78 -4.88
ASPMM 0.62 -4.62
AQAR 0.69 -4.17

MOST ACTIVE COMPANIES

Value Traded (JD) %
ATCO 737,300.260 0.00%
JNTH 697,376.350 0.00%
JOEP 586,786.200 0.00%
JOPH 555,598.400 0.00%
NATA 476,337.860 0.00%

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