UAE Equity Ownership Monthly Report

Transcription

1 EQUITY RESEARCH Research and Advisory CONTENT Summary Statistics 1 Ownership by Nationality 2 Ownership by Sector 3 Top Shares Bought by UAE Nationals 4 Top Shares Sold by UAE Nationals 5 Net Position for Selected Stocks 6 Appendix 7 Notes to the Report Changes in ownerships were calculated based on data provided by DFM, ADX. Prices for previous closing and for the regional markets were provided by Thomson Reuters. UAE Equity Ownership Monthly Report Value of Ownership by Nationality (31 July August 2017) Market Number of Companies Market Cap Value (AED) of the Ownership by Nationality July 2017 Nationals GCC Arab Other Abu Dhabi Stock Exchange (ADX) ,920,567, ,618,073,586 10,396,615,134 2,338,021,754 30,567,857,184 Dubai Financial Market (DFM) ,340,061, ,351,931,888 14,445,450,379 4,362,355,041 42,180,323,815 Total ,260,628, ,970,005,473 24,842,065,512 6,700,376,796 72,748,180,998 Mixed results were recorded for the UAE markets in August. While DFMGI marginally increased by 0.12% to close at 3,638 points, Abu Dhabi s index posted losses of 2.14% to close at 4468 points at the end of August. In terms of market cap, DFM s cap dropped by 0.02% to AED352.3bn, and ADX was 2.21% lower at AED432.9bn. In ADX, GCC, Arab and Foreign investors were net sellers with net selling positions of AED30mn, AED6mn and AED40mn, respectively. On the other hand, National investors were buyers with net buying positions of AED77mn. In DFM, National investors were the buying power drivers with net buying positions of AED1,308mn. GCC, Arab and Foreign Investors decreased their holdings with net selling positions of AED430mn, AED209mn and AED669mn, respectively. Abu Dhabi Stock Exchange (ADX) Dubai Financial Market (DFM) GCC 2.40% Arab 0.54% Other 7.06% GCC 4.10% Arab 1.24% Other 11.97% Volume IV Issue Number 8 Thursday, September 7, 2017 Nationals 90.00% Nationals 82.69%

2 (40.46) (668.60) (709.07) (30.28) (5.94) AEDmn AEDmn AEDmn (429.93) (460.21) , , Net Changes in the Value of Ownership by Nationality (Values in AED, as of 30 August 2017 ) , , , , (20.00) (500.00) (500.00) (40.00) (60.00) Abu Dhabi Stock Exchange (ADX) (1,000.00) Dubai Financial Market (DFM) (1,000.00) Combined UAE Markets Nationals GCC Arab Other Nationals GCC Arab Other Nationals GCC Arab Other Market Net Changes in the Value (AED) of the Ownership August 2017 Nationals GCC Arab Other Abu Dhabi Stock Exchange (ADX) 76,681, (30,281,788.05) (5,936,727.73) (40,462,512.73) Dubai Financial Market (DFM) 1,308,002, (429,932,449.28) (209,466,625.65) (668,603,749.17) Total 1,384,683, (460,214,237.33) (215,403,353.38) (709,066,261.91) Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 2

3 Market Performance and Net Changes in the Value of Ownership by Sector Global Majors Outperform Local Markets, on a YTD Basis DFMGI s continued its positive performance in August but at a much lower rate than July. It improved by 0.12% to have a positive YTD at 3.02% as of end of August. After flipping to positive YTD in July, ADX dipped again to negative YTD of 1.71% due to its negative performance of 2.14% in August. On the Other hand, Tadawul s fluctuated again to positive YTD of 0.29% thanks to its 2.32% boost in August. Globally, NASDAQ added 0.32% to its lead to stand at YTD of 18.30%. Despite its negative performance of 0.69% in August, MSCI World Index kept its second place with YTD of 11.21% and Dow Jones stayed in third place with YTD of 10.78%. No Changes In The Picture! The net changes in ownership totally mimics that of July except for the Finance & Investment sector where the changes totally flipped between buyers and sellers. The property sector is still attracting foreign investors however due to Emaar s plans to IPO its development unit. Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 3

4 Top Shares Bought by UAE Nationals Tabreed Dominates the Emiratis Buying Power Emirati Investors accumulated AED1.28bn worth of shares in Tabreed, while Dana attracted Emiratis to purchase AED112mn in its shares. Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 4

5 Top Shares Sold by UAE Nationals Al Dar, Etisalat and Emaar Favored by Foreigners For the second month in a row, Al Dar, Etisalat and Emaar are top sell by Emirati investors. The three names have seen an accumulation of foreign investors probably driven by Etisalat s biannual dividends and Emaar s plan to IPO its development unit. Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 5

6 Net Position for Selected Stocks (Number of Shares) Company Month-on-Month Price Change UAE GCC ARABS FOREIGNERS TABREED 1.93% 1,280,602,802 (367,278,030) (148,973,928) (764,350,845) DANA 0.00% 111,817, ,644 (8,072,790) (104,173,825) FAB -2.35% 83,074,167 (28,220,283) 12,353,457 (67,207,341) AMANAT -0.89% 49,672,500 2,775,000 (20,812,500) (31,635,000) UPP -4.41% 41,900,228 (5,713,667) (19,426,469) (16,760,091) EMAARMALLS -0.81% 28,813,660 (12,806,071) 9,604,553 (25,612,142) DIC -1.27% 15,851,529 (17,832,970) 3,962,882 (1,981,441) ARTC -7.51% 14,880,000 (960,000) (2,880,000) (11,040,000) DIB 0.16% 9,029,379 (3,009,793) (3,009,793) (3,009,793) DFM -5.04% 8,136,000 (9,040,000) 8,136,000 (7,232,000) MANAZEL 0.00% (3,158,376) 293,514 1,360,086 1,504,776 AGTHIA 3.77% (6,015,900) 3,339,600 (597,300) 3,273,600 ESHRAQ -7.45% (6,810,599) 6,183,547 2,374,709 (1,747,656) UNB -6.62% (9,008,226) (1,187,131) 360,795 9,834,562 RAKBANK 9.26% (20,863,623) (10,609,829) 102,854 31,370,598 ETISALAT -4.00% (29,273,274) (3,756,998) 0 33,030,272 AIRARABIA 5.66% (30,314,883) 3,658,693 (24,042,838) 50,699,029 EMAAR 3.16% (48,686,224) (12,171,556) 12,171,556 48,686,224 DAMAC 1.00% (56,216,600) (9,776,800) (17,109,400) 83,102,800 ALDAR -1.28% (64,931,561) (4,813,109) (2,815,215) 72,559,884 Note: Net buyers on the company Net sellers on the company Prices are as of: 30 August 2017 Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 6

7 Appendix: Where Do Sectors Stand from Foreign Ownership Limits (FOL)? Sector FOL Shares Share Percentage GCC Other GCC Other Total Sector Value of FOL Shares Available Value Percentage GCC Other GCC Other Total Banking 6,447,206,258 12,123,881, % 21.28% 21.28% Construction & Related 982,388,651 3,107,603, % 45.29% 45.29% Consumer 125,844, ,858, % 20.38% 20.38% Contracting 1,237,120,532 3,289,158, % 47.24% 47.24% Insurance 455,296, ,710, % 16.20% 16.20% Energy 4,151,808,618 3,418,545, % 26.21% 31.83% Finance & Investments 2,759,311,078 8,985,033, % 44.90% 44.90% Health & Pharmaceutical 1,636,439,284 2,118,601, % 49.00% 49.00% Property 10,824,435,841 15,527,958, % 40.79% 40.79% Telecom 388,549,836 6,310,779, % 47.56% 47.56% Transport 2,157,243,463 3,274,408, % 45.94% 45.94% Leisure & Hospitality 4,048,256,687 11,085,964, % 46.59% 46.59% Total 35,213,902,050 70,414,504, % 35.66% 35.66% Banking 32,352,236,633 76,004,512, % 22.20% 22.20% Construction & Related 1,717,929,326 3,839,973, % 45.27% 45.27% Consumer 609,855,847 1,100,756, % 16.23% 16.23% Contracting 1,690,172,570 5,834,606, % 45.03% 45.03% Insurance 480,198,738 1,214,878, % 8.30% 8.30% Energy 2,657,157,516 2,187,869, % 26.21% 31.83% Finance & Investments 3,896,665,272 12,048,942, % 42.52% 42.52% Health & Pharmaceutical 2,405,383,410 3,367,405, % 49.00% 49.00% Property 40,570,548,282 53,091,236, % 46.15% 46.15% Telecom 6,507,186,192 56,999,742, % 31.28% 31.28% Transport 6,005,606,467 6,571,282, % 44.70% 44.70% Leisure & Hospitality 5,345,284,806 19,909,748, % 45.48% 45.48% Total 104,238,225, ,170,954, % 30.87% 30.87% Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 7

8 Appendix: Where Do Sectors Stand from Foreign Ownership Limits (FOL)? Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 8

9 Appendix: Where Do Sectors Stand from Foreign Ownership Limits (FOL)? Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 9

10 Appendix: Where Do Sectors Stand from Foreign Ownership Limits (FOL)? Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 10

11 Appendix: Foreign Ownership and Available Shares for Selected Stocks Company Name Capital Shares Can GCC Own 100% Foreign Ownership Limit Foreign Ownership As of end of August 2017 Foreign Ownership Available Available shares to Non-UAE GCC Others GCC Arabs Foreign GCC Others (*) GCC Others (*) TABREED 2,715,529,124 YES % 49.00% 2.53% 0.91% 5.05% 97.47% 43.04% 2,646,826,237 1,168,763,735 DANA 6,976,623,422 YES % 49.00% 22.24% 4.07% 33.19% 77.76% 11.73% 5,424,743, ,623,039 FAB 10,897,545,318 NO 25.00% 25.00% 1.45% 0.48% 9.13% 23.55% 13.94% 2,566,470,000 1,519,074,227 AMANAT 2,500,000,000 YES % 49.00% 26.86% 2.60% 17.06% 73.14% 29.34% 1,828,500, ,500,000 UPP 4,289,540,135 NO 25.00% 25.00% 3.90% 9.51% 6.62% 21.10% 4.97% 905,092, ,190,145 EMAARMALLS 13,014,300,000 YES % 49.00% 1.70% 0.30% 7.89% 98.30% 40.81% 12,793,056,900 5,311,135,830 DIC 4,252,019,586 NO 35.00% 35.00% 4.70% 2.79% 9.29% 30.30% 18.22% 1,288,361, ,717,969 ARTC 1,500,000,000 YES % 49.00% 4.10% 6.43% 8.48% 95.90% 34.09% 1,438,500, ,350,000 DIB 4,942,188,884 NO 25.00% 25.00% 5.72% 1.62% 9.78% 19.28% 7.88% 952,854, ,444,484 DFM 8,000,000,000 NO 49.00% 49.00% 1.59% 1.92% 4.42% 47.41% 41.07% 3,792,800,000 3,285,600,000 MANAZEL 2,600,000,000 NO 49.00% 49.00% 7.61% 4.29% 9.11% 41.39% 27.99% 1,076,254, ,820,600 AGTHIA 600,000,000 NO 25.00% 25.00% 5.03% 0.18% 8.18% 19.97% 11.61% 119,827,800 69,678,000 ESHRAQ 2,325,000,000 YES % 49.00% 21.26% 9.12% 5.34% 78.74% 34.54% 1,830,670, ,143,350 UNB 2,751,426,562 NO 40.00% 40.00% 1.78% 0.19% 10.99% 38.22% 27.04% 1,051,507, ,908,702 RAKBANK 1,676,245,428 NO 40.00% 40.00% 14.48% 0.16% 3.92% 25.52% 21.43% 427,729, ,212,690 ETISALAT 8,696,754,000 NO 20.00% 20.00% 0.10% 0.02% 3.90% 19.90% 15.98% 1,730,540,988 1,390,115,250 AIRARABIA 4,666,700,000 NO 49.00% 49.00% 4.64% 4.52% 14.43% 44.36% 25.41% 2,070,148,120 1,185,808,470 EMAAR 7,159,738,882 NO 49.00% 49.00% 7.43% 1.54% 29.06% 41.57% 10.97% 2,976,303, ,423,355 DAMAC 6,050,000,000 YES % 49.00% 4.13% 0.21% 37.80% 95.87% 10.99% 5,800,135, ,895,000 ALDAR 7,862,629,603 NO 40.00% 40.00% 3.57% 1.38% 20.12% 36.43% 14.93% 2,863,970,696 1,173,804,111 * Include Non-GCC Arabs and Foreigners Equity Research UAE Equity Ownership Monthly Report 7 September 2017 Page 11

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