4 IPOs are expected, most notably “ADNOC Gas”, “ADNOC Logistics Services”, “Al Ansari Exchange” and “Emirates Aluminum”.

The UAE markets are preparing to continue the momentum of initial public offerings in 2023

During the past year, the Dubai Financial Market witnessed the listing of five companies: DEWA, ​​Tecom, Salik, Empower and Education.


Local stock markets are poised to continue the momentum in initial public offerings, with many government and private companies proceeding with their plans to list on the Dubai Financial Market and Abu Dhabi Stock Exchange.

The UAE markets in particular and the regional investment community in general are going through an ideal timing in light of the wave of public offerings that embody the most prominent features of the business sector in the region during the past year, and have a favorable ground for continuing this momentum in 2023.

According to official data and reports of international agencies, the UAE stock markets are anticipating, so far, four initial public offerings this year, led by ADNOC Gas, ADNOC Logistics, Maritime and Shipping Services, Al Ansari Exchange Company and Emirates Global Aluminum.

ADNOC also intends to carry out an initial public offering of a minority stake in ADNOC Gas on the Abu Dhabi Stock Exchange in 2023, subject to regulatory approvals.

The Abu Dhabi National Oil Company (ADNOC) is also considering an initial public offering for its logistics, marine and freight services unit.

The Al-Ansari Exchange Company is also considering offering its shares on the Dubai Financial Market during the coming period.

Earlier, the exchange company held preliminary talks with potential advisors regarding the listing, which may occur in the first quarter of 2023.

Emirates Global Aluminum is considering offering its shares in a public subscription in 2023, which may be one of the largest public offerings in the UAE in recent years.

The company is studying proposals from banks regarding offering shares in the market, and is also studying offering between 10% and 20% of its shares to investors.

Initial estimates from banks indicate that the value of the company ranges between $16 billion and $19 billion.

The new IPOs are in line with the market's plans to double its market value to six trillion dirhams over the next three years, from its current level of about 3.2 trillion dirhams.

The local stock markets attracted a new market capitalization during the past year, amounting to approximately 294 billion dirhams.

Over the past year, the Dubai Financial Market has strengthened its role in supporting economic development efforts in Dubai and the UAE, as an effective platform to raise funds through public offerings and listings for five leading companies from the government and private sectors: DEWA, ​​TECOM, SALIC, and Empower. "," and "education."

These companies succeeded in raising more than 31 billion dirhams, and their subscriptions were very popular, as the total amounts subscribed amounted to 673 billion dirhams.

The Dubai Financial Market acquired 40% of the total value of offerings witnessed by the Gulf stock exchanges in 2022, amounting to $ 21 billion, compared to 36% for the Saudi financial market, and 16% for the Abu Dhabi Stock Exchange.

The Abu Dhabi National Oil Company, ADNOC, began serious moves to offer a stake in the ADNOC Gas Company, whose establishment was recently announced for public subscription.

In this context, the company has invited investment banks to apply for roles in the initial public offering of its gas business next year.

The local financial markets witnessed 11 initial public offerings for new companies during the past year, in a move that contributed to increasing the depth of the markets, enhancing their investment attractiveness, and attracting a new segment of investors, thus establishing the position of the financial markets in the country as one of the most important financial and business markets in the world.

The new offerings collected about 51.2 billion dirhams, amid a large and record turnout by investors, sovereign funds and global investment portfolios, with the total demand for these offerings reaching more than 1.454 trillion dirhams, reflecting great confidence in the strong economic approach pursued by the state in its major companies and institutions.

The new offerings in the local markets succeeded in providing attractive opportunities and wider options for investors to participate in the strong growth process of the national economy, and also paved the way for companies to start their journey in the UAE markets, which is one of the most important financial markets at the regional and global levels.

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