#Dubai Stock Exchange in Talks to Attract Dual Listings, CEO Says - Bloomberg

Dubai Stock Exchange in Talks to Attract Dual Listings, CEO Says - Bloomberg

Dubai’s stock exchange is in talks with companies planning dual listings to attract both foreign and local investors, its chief executive officer said.

The plan follows a booming year for initial public offerings in the Gulf in 2022, as investors flocked to a region that was growing even as listings elsewhere dried up under the weight of rising interest rates globally.

“We have a number of stories that are looking at Dubai as a much better hub for them to attract regional and international investors,” CEO Hamed Ahmed Ali told reporters on the sidelines of the MENA IPO Summit held in Dubai. These firms are “regional with an international flavor,” he said, without elaborating.

The dual-listing plan follows the success of such a deal in the Gulf region late last year when Americana Restaurants International Plc raised $1.8 billion in a share sale in Abu Dhabi and Riyadh. Shares in the Middle Eastern operator of KFC and Pizza Hut outlets are up around 30% since they went public in the first dual listing on the two bourses.