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,” said George Naddaf, eToro's Managing Director for MENA.

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

The 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 the 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.