Dubai is to host the inaugural Mena IPO Summit on Monday that will bring regional and international industry experts and issuers together, as initial public offerings pick up pace in UAE.
The three-day summit and workshops will be held from January 23 to 25 at the Museum of the Future in Dubai, the Dubai Media Office said on Sunday.
The event, jointly organised by the Dubai Financial Market (DFM) and the Dubai World Trade Centre (DWTC), will underpin the IPO growth in the emirate so far and prospects of Dubai driving further growth in public listings in the six-member economic bloc of GCC and the winder Mena region.
“Last year, Dubai accounted for 40 per cent of IPO activity in the Gulf region,” Sheikh Maktoum bin Mohammed, Deputy Prime Minister and Minister of Finance, and Deputy Ruler of Dubai, said.
“Driven by the ambitious goals of the Dubai Economic Agenda (D33), Dubai will continue to accelerate its economic growth momentum and consolidate its position as a major international financial centre,” Sheikh Maktoum, who is also chairman of the Higher Committee for the Development of Financial Markets and Exchanges in Dubai, said.
The UAE and the wider region has seen a flurry of IPOs, amid strong investor demand as economies rebound at a quicker pace from the coronavirus-induced slowdown and liquidity has been shored up by high oil prices.
Overall, 12 companies in the UAE listed last year, raising $11 billion, in addition to the joint Abu Dhabi-Riyadh listing of Mena food franchisee Americana, which raised $1.8 billion in late 2022, according to EFG Hermes Research.
Dubai, the commercial and trading hub of the Middle East, was particularly active last year. The March listing of the Dubai Electricity and Water (Dewa) was the largest GCC IPO in 2022, raising $6.1 billion. The offering size was more than doubled to 8.5 billion shares. The utility is now the largest listed company by market capitalisation on the DFM.
State-controlled entities Salik, Empower and Tecom, collectively raised $2.2 billion in June, September and November, respectively.
Schools operator Taaleem also listed its shares in Dubai, after raising $205 million from its public offering in November.
Dubai plans to bolster the size of its capital markets, with plans to list 10 state-owned companies and boost the size of the emirate's financial market to about Dh3 trillion.
The emirate is also aiming to set up a Dh2 billion market maker fund to encourage the listing of more private companies from sectors such as energy, logistics and retail.
The Mena IPO Summit will provide a platform for industry-shaping discussions, allowing institutional investors, family businesses and start-ups to explore the latest regulations and market trends in the Dubai capital market.
The event will also provide delegates an opportunity to engage with key IPO issuers and thought leaders from the investment and capital market industry, the Media Office said.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
UAE currency: the story behind the money in your pockets
The essentials
What: Emirates Airline Festival of Literature
When: Friday until March 9
Where: All main sessions are held in the InterContinental Dubai Festival City
Price: Sessions range from free entry to Dh125 tickets, with the exception of special events.
Hot Tip: If waiting for your book to be signed looks like it will be timeconsuming, ask the festival’s bookstore if they have pre-signed copies of the book you’re looking for. They should have a bunch from some of the festival’s biggest guest authors.
Information: www.emirateslitfest.com
OPENING FIXTURES
Saturday September 12
Crystal Palace v Southampton
Fulham v Arsenal
Liverpool v Leeds United
Tottenham v Everton
West Brom v Leicester
West Ham v Newcastle
Monday September 14
Brighton v Chelsea
Sheffield United v Wolves
To be rescheduled
Burnley v Manchester United
Manchester City v Aston Villa
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
MANDOOB
%3Cp%3EDirector%3A%20Ali%20Kalthami%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Mohammed%20Dokhei%2C%20Sarah%20Taibah%2C%20Hajar%20Alshammari%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
