Last year – thanks to huge initial public offerings (IPOs) from companies such as AD Ports Group, Borouge and DEWA – IPOs in the Middle East outpaced Europe for only the second time since the global financial crisis of 2009. What can we expect from 2023?
Each new company floating on the Abu Dhabi Securities Exchange (ADX) or Dubai Financial Market (DFM) will start life already meeting the 2021 quota for one woman per listed company board, set by the Emirates Securities and Commodities Authority in 2021.
So every new company listed brings one more woman to a UAE board – making news of IPOs a good place to look for board seats.
Dubai plans to list 10 state-owned companies this year, and boost the size of its financial market to about Dh3 trillion.
[Find out more – Pathway20 board accelerator | Gateway for aspiring board directors]
All the IPOs announced in the UAE in 2023:
Key
- 📈 Under $1 billion raised
- 📈📈 Over $1 billion raised
- 📈📈📈 Over $2 billion raised
Al Ansari
Al Ansari Financial Services, the UAE money and exchange company, plans to list 10 per cent of the company in an initial public offering on DFM on 6 April.
[Full story about Al Ansari on The National]
ADNOC Gas 📈📈📈
ADNOC sold five percent of its gas business and more than three million shares in March. It raised $2.5 billion, in the world’s biggest IPO so far in 2023.
[Full story about ADNOC Gas on The National]
G42
After G42 listed Bayanat in 2022 and has six more IPOs in the pipeline for 2023, including G42 Healthcare, Presight AI and AIQ, its joint venture with ADNOC.
Presight AI 📈
Presight AI, a G42 company focused on data analytics and artificial intelligence, plans to raise more than Dh1.82 billion ($496 million) from an IPO on ADX. Presight’s shares are expected to start trading on the ADX’s first market on or around 27 March 2023.
![[A50 template] Fatima Al Hammadi, COO of KIZAD (AD Ports Group)](https://aurora50.com/wp-content/uploads/2022/09/2022_06_03_EmiratiWomensDay-copy-2-1024x537.jpg)
