At least eight companies are expected to list in Abu Dhabi this year after the emirate’s main energy company pulled off the world’s biggest listing so far in 2023.
The IPO candidates span industries from technology and media, to asset management and a firm that operates in the regenerative medicine sector, according to Sameh Al Qubaisi, director general of economic affairs at Abu Dhabi’s department of economic development.
“These are sizable companies,” Al Qubaisi, who also leads a 5 billion dirham ($1.36 billion) IPO fund to spur share sales in the emirate, said in an interview. “Some are high-growth companies that have only been there for five or six years, the disruptors.” Some firms plan to list 10% and 20% stakes, he said, declining to name them.
Other potential listings include family conglomerates, as well as local and international private sector companies. Many operate in sectors that haven’t listed in Abu Dhabi before as the government seeks to diversify the local stock exchange, Al Qubaisi said.
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