Receives investment and advisory services from the Abu Dhabi Fund for Subscription

30 companies are considering listing their shares on the Abu Dhabi Securities Exchange

Al-Shurafa: «The Abu Dhabi Fund for Subscription has a capital of 5 billion dirhams.

From the source

The head of the Department of Economic Development in Abu Dhabi, Muhammad Ali Al-Shurafa, stated that 38 private companies are nominated to receive investment and advisory services from the Abu Dhabi Fund for Subscription, which helps them qualify for listing on the Abu Dhabi Securities Market, including six companies that have been placed in a preliminary list, and 32 companies in an additional list. In addition, a dialogue is being held with 30 of these companies, which are considering listing on the Abu Dhabi Stock Exchange.

This came during a speech delivered by the head of the department, as part of the activities of the first day of the "Abu Dhabi Financial Week", which began yesterday in Abu Dhabi and will continue until November 18.

Al-Shurafa explained, “The Abu Dhabi Subscription Fund, which is managed by the Department of Economic Development at a value of five billion dirhams, continues its efforts and plans to activate a new wave of subscriptions in Abu Dhabi,” noting that “the fund evaluated local and regional companies from various sectors, to shortlist qualified candidates.” To obtain support during the pre-IPO and private placement phases.

He added, "The Abu Dhabi Fund for Subscription provides support to investment companies in the advanced stage of subscription, and the support services provided by the fund include managing investment relations and access to the economic system that includes the relevant regulators and shareholders in the market."

Al-Shurafa added, "The UAE has accumulated great experience from the past global economic recession, and we have learned that challenges can turn into opportunities, and there is consensus on the need to shift from capital markets to more comprehensive systems, and from short-term capital markets to sustainable markets." ».

He said, “Thanks to the strong partnership between the public and private sectors, Abu Dhabi has established an economic and financial model that enables project owners and investors to integrate easily with the emirate’s economic structure.

It also established a favorable business and investment environment, as it simplified business start-up and management procedures.

For example, in Abu Dhabi, we reduced business establishment and license renewal fees by 93%, and even canceled 71% of licensing requirements. We also created an environment that encourages entrepreneurship and innovation, both internally and externally.

We also focus our efforts on making the economy based on knowledge and sustainability.”

He added, “These efforts have resulted in international recognition of the UAE’s position, placing it first on the Global Entrepreneurship Index for the year 2022. The country was also ranked first in the region in terms of ease of doing business, according to the Doing Business report issued by the World Bank for the year 2020. Rather, The UAE ranked first in the Arab world and 19th in the world in the ability to attract foreign direct investment, according to the World Investment Report 2022.

Muhammad Ali Honorable:

"The Abu Dhabi Subscription Fund continues its efforts and plans to activate a new wave of subscriptions in Abu Dhabi."

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