- IPOs are expected to take off in Abu Dhabi in the last months of 2022 and through 2023, with three more expected this year and 11 predicted for next year.
- A five billion dirham fund established a few months ago to encourage public listings has been helpful in this burst of IPOs. The fund has seen an increase in privately held and family-owned businesses seeking government assistance as they get ready to list.
- Last month, Burjeel Holdings collected $300 million (RM1.38 billion) through the fund, which is also interested in businesses in the manufacturing, healthcare, and financial services sectors, according to Al Shorafa.
Why it matters
According to data published by Bloomberg, listings in the Middle East, particularly in Riyadh, Abu Dhabi, and Dubai, have attracted significant investor interest and have brought in $18B this year, accounting for about half of the IPO funds raised in Europe, the Middle East, and Africa.
