UAE has 11 IPOs worth $2.2bln in the pipeline – SCA
The UAE has 11 IPOs in the pipeline with a value exceeding AED 8 billion ($2.2 billion) after it saw its highest level of offerings by aggregate value in 2022 since 2008.
Speaking at the inaugural MENA IPO Summit in Dubai, the deputy CEO of the Securities and Commodities Authority (SCA), Mohammed Khalifa Al Hadari, said that 2021 had been a year of recovery, but there had been significant growth in local capital markets in 2022, with the highest level of IPOs by aggregate value since 2008.
“There are 11 new IPOs with a total value exceeding AED 8 billion, including four free zone companies and two SPAC waiting in the pipeline currently,” he said.
“The current flurry of activity is more sustainable than the previous IPO booms as it is part of the wider well defined government strategy to expand diversity to supply the markets.
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