The IPO Summit kicks off in Dubai today

Maktoum bin Mohammed: Dubai's global economic momentum continues according to the "D33" agenda

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and Chairman of the Supreme Committee for the Development of Financial Markets and Stock Exchanges in Dubai, confirmed that the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai It contributed to strengthening the position of the financial markets in Dubai, and established the emirate's leading position as one of the most important and prominent financial and economic centers in the region and the world.

His Highness said: "The summit of public offerings in the Middle East and North Africa will start in Dubai. Last year, Dubai achieved 40% of the subscription activities in the Gulf region, with a value of subscription requests amounting to 673 billion dirhams.. Dubai's global economic momentum will continue according to our D33 economic agenda.. and we will continue." In establishing Dubai as a major global financial capital.

The IPO Summit for the Middle East and North Africa region will take place at the “Museum of the Future” in Dubai from January 23 to 25, 2023, and is organized by the Dubai Financial Market and the Dubai World Trade Center, as part of the strategy of the “Supreme Committee for the Development of Financial Markets and Stock Exchanges”, with the aim of highlighting the momentum The growing capital markets in Dubai are witnessing in terms of IPOs and investments, as the summit provides an effective platform to explore the opportunities offered by the Dubai Financial Market in this field, in cooperation with experts in capital markets and IPOs.

For his part, Director General of the Department of Economy and Tourism in Dubai, Chairman of the Board of Directors of the Dubai Financial Market, Hilal Al-Marri, confirmed that the strategy of the Supreme Committee for the Development of Financial Markets and Stock Exchanges has contributed significantly to the development of the performance of financial markets in Dubai over the past period, and formed a basic pillar to support Dubai's vision is to establish itself as a leading global financial centre, accelerate the transition to a more sustainable economy, and continue to promote strong initial public offerings.

He added that Dubai continues its leadership at the global level, to achieve the objectives of the "Dubai Economic Agenda D33" in being among the four most important global financial centers, based on an operational environment, and pioneering legal and regulatory frameworks, which attract major financial institutions and global financial technology companies.

In turn, the CEO of the Dubai Financial Market and Nasdaq Dubai, Hamed Ali, said that the market has a distinguished list of prominent companies in the government and private sectors, seeking to carry out public offerings and be listed in it, which calls for confidence in the market's ability to achieve stronger and greater achievements. In 2023 and beyond.

He added, “We seek to implement the Dubai Financial Market’s strategy aimed at developing a world-class dynamic system for capital markets, in cooperation with all market participants, in order for it to continue to play its vital role in the rapid and effective implementation of Dubai’s ambitious strategy towards developing capital markets, and to participate strongly in the implementation of Projects (Dubai Economic Agenda D33).

The launch of this series of IPO summits comes at an ideal time for Dubai and the regional investment community in general, in light of the wave of large-scale public offerings that embody the most prominent features of the business sector in the region during the year 2022, and which has a favorable ground for continuing this momentum in the year 2023.

The summit gathers a large group of the most prominent experts in the field of financial markets, to exchange experiences and shed light on the latest developments related to public offerings, and the opportunities and challenges associated with converting to a public joint stock company.

Deputy Ruler of Dubai:

• "Mohammed bin Rashid's directives contributed to strengthening the position of the financial markets in Dubai, and established the emirate's position as one of the most important and prominent financial and economic centers."

• «Dubai achieved last year 40% of the subscription activities in the Gulf region, with a value of subscription requests amounting to 673 billion dirhams.

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