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The Dubai Financial Market (DFM) will focus on attracting more private sector entities to list on the local bourse as the government has already pledged to list 10 state-linked firms. Refinitiv data shows $8.5 billion in proceeds from five IPOs in 2022. Last year, four went public: DEWA, Empower, Tecom Group and Salik.
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DFM is working to enhance liquidity – a key market concern – and boost market participation, including by bringing in institutionally focused funds and a diverse range of brokerage firms. The emirate has done phenomenally well in terms of GDP and population growth as well as foreign direct investment projects.