The local financial markets have witnessed the inclusion of 6 new companies since the beginning of this year, in a step that contributes to increasing the depth of the markets, improving their investment attractiveness and attracting a new segment of investors, and thus the position of the financial markets in the country as one of the most important financial and business markets in the world.
The new listings in the local markets offer attractive opportunities and broader investment options for investors to participate in the strong growth process of the national economy, and pave the way for the growing companies to begin their journey in the world of financial markets.
Many local companies are continuing their plans to list on the Abu Dhabi Securities Exchange and the Dubai Financial Market, after the markets have so far shown their resilience in the face of global fluctuations following the success of public offerings and listings offered by the Abu Dhabi stock exchange observed last year, which included Vertiglobe and ADNOC Drilling. ” and “Falfabee”, and the “Multiplay” group.
In Dubai, 10 government and semi-government companies are scheduled to be presented at the Dubai Financial Market, where the launch of “Dewa” and “Tecom” began, while the Committee for the Development of Capital Markets and Exchanges in Dubai announced its intention to include the “Salik” system for traffic tariffs and the Emirates Foundation for Systems Central Cooling “Empower” is a step that will support the financial sector in the emirate in an unprecedented way, and the pace of growth in it will stimulate to achieve more achievements and successes.
The listing train began with “Abu Dhabi Ports”, whose shares were listed on the Abu Dhabi Stock Exchange last February, after succeeding in attracting new capital from an initial issue.
Abu Dhabi Ports will use the cash proceeds of this initial issue, amounting to 4 billion dirhams, to fund sales growth plans, acquisitions and mergers, enabling the group to improve its plans for local and international expansion.
The second listing of the Dubai Electricity and Water Authority (DEWA) was last April, to become the largest company listed on the Dubai Financial Market in terms of market value, the second largest listing in the region, and the largest ever in the history of the UAE capital markets.
DEWA’s offer included the sale of 9 billion shares, representing 18% of its issued capital, bringing the total return on offer to 22.3 billion dirhams, with the Dubai government retaining a share which represents 82% of the company’s issued capital.
DEWA saw strong demand and exceptional demand for its shares from various investor segments, as it received subscription requests that exceeded the offered shares by 37 times, excluding core and strategic investors.
The third listing of the shares and approvals of the “ADC Corporation” for acquisition, established by “ADQ Holding” and Shemera Investments, to manage a diversified investment portfolio of listed and unlisted shares in the local and international markets.
The listing of “EDC” on the Abu Dhabi market last May came after the completion of the public offering that targeted institutional and individual investors, where the company was able to raise a capital of 367 million dirhams through an initial public offering of a total of 36.7 million shares at an offer price of 10 Dirhams per share.
In turn, the fourth listing of Borouge, the petrochemical joint venture between the Abu Dhabi National Oil Company (ADNOC) and its strategic partner, Borealis, was listed on the Abu Dhabi Securities Exchange, following the completion of the subscription process in the largest initial public offering. offer ever in Abu Dhabi. And the largest petrochemical company in the Middle East.
The initial public offering, which generated total revenue of more than $ 2 billion from the offering of shares representing 10% of the company’s issued capital, attracted a total demand of more than $ 83.4 billion, which means that the level of enrollment in total about 42 times the target value.
The fifth listing of “Invictus Investment”, which is listed on the “Nomu Market” in the Abu Dhabi market, has come in a step aimed at expanding its product portfolio and expanding its operations internationally, which the number of companies in the “Nomu brings” Market “so far to 13 companies.
The “Nomu Market”, which replaced the “Second Market” in the Abu Dhabi Stock Exchange from last April, enables private companies to increase the value of their brand and raise their standards of corporate governance, in addition to benefiting from new opportunities to expand the investor base, improve the cost of capital and expand its business networks.
TECOM Group is regarded as the sixth listing with the start of its trading today on the Dubai Financial Market, after the huge success of the offering, which saw the highest coverage rate in the history of public offerings on the Dubai Financial Market, which has been proven of the firm’s foundations, capabilities and ability to continue expansion and growth, in addition to Optimism about Dubai’s economy and its promising growth prospects, and the firm confidence in the strength of the emirate’s financial markets.
The presentation of “TECOM” attracted strong demand within the enrollment of qualified institutional investors and the enrollment of individuals in the UAE, as the value of the enrollment requests received amounted to 35.4 billion dirhams, resulting in a total coverage of the amount of shares offered by more than 21 times according to the final price. Through this presentation, TECOM has managed to raise 1.7 billion dirhams.