#Dubai hopes to seize private sector listings, boost access to stock exchange | Reuters

Dubai hopes to seize private sector listings, boost access to stock exchange | Reuters

Dubai's stock exchange is working on expanding private sector listings and plans to boost access for both institutional and retail investors, its chief executive said on Tuesday.

"Being able to attract the private sector to the market is the key and we think we can," Ali said, adding it was what he and his team spend most of their time on.

Gulf governments have been trying to encourage more family-owned companies to list in a bid to deepen their capital markets, with Saudi Arabia so far seeing the most success.

Dubai, the region's financial hub, saw nearly $8.5 billion in proceeds from five IPOs in 2022, according to Refinitiv data.

Dubai's government has pledged to list 10 state-linked firms to boost stock market activity. Four went public last year: utility firms Dubai Electricity and Water Authority (DEWA) and Empower, business park developer Tecom Group and road toll operator Salik .