Page 153 - AAE PR REPORT - July 2024

7/19/24, 2:13 PM Dubai's Amanat Holdings plans to list its education platform
The government aims to expand the size of the emirate's financial market to Dh3 trillion.

Abu Dhabi has also seen a spate of IPOs from public and private sector entities.

Companies including Parkin, Salik, Tecom, Empower, Dubai Taxi Company, Al Ansari

Financial Services, Pure Health, Adnoc Gas and Investcorp Capital have listed their shares

on the UAE bourses in the past two years.

Last month, Alef Education Holding, a UAE-based education technology company, listed

its shares on the Abu Dhabi Securities Exchange after raising Dh1.89 billion ($514
million) through an IPO.

The public offering to retail and institutional investors was 39 times subscribed by

investors receiving $20 billion in orders, according to the company.

Spinneys, the operator of premium supermarkets in the UAE and Oman, also went public

with the listing of shares on the DFM. It raised Dh1.37 billion through the IPO.

Companies in Dubai have raised Dh34.5 billion through selling shares in the past three

years, with aggregate investor demand for those listings reaching more than Dh1 trillion,

the Dubai Securities and Exchange Higher Committee said in March.

The UAE, the Arab world's second-largest economy, led the GCC in terms of funds raised

last year through IPOs.

Issuers secured $6.07 billion from eight listings on UAE exchanges, accounting for about

56.3 per cent of total proceeds, according to data from Kamco.

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