Page 138 - ALEF EDUCATION PR REPORT MARCH 2025

3/25/25, 8:42 AM UAE set for up to eight IPOs this year, raising about $10bn, Emirates NBD Capital CEO says | The National
Alpha Data’s shares were trading 12 per cent higher at Dh1.69 per share at 1.31pm UAE time o
Tuesday, compared with the final offer price of Dh1.50 per share, giving it a market capitalisatio
of Dh1.6 billion.

There were seven IPOs across the UAE last year, including Talabat Holding, major retailer Lulu
Group, ADNH Catering, NMDC Energy and Alef Education. IPOs in the UAE accounted for 47 p
cent, or $6.2 billion, of total Gulf proceeds last year, PwC said in a report.

Overall, 2024 saw the highest Gulf IPO volumes on record, with 53 listings across the region a
a total of $13.2 billion raised, the report said.

There are “quite a few factors” that support company listings in the UAE, as well as in Saudi
Arabia and Oman, Mr Asarpota said.

As part of efforts by the three countries "to overhaul the equity capital market ecosystem throug
privatisation", there has been a stream of "marquee companies going and listing a percentage
the stock exchange”, he added.

In 2021, the Dubai Financial Market unveiled an incentives programme to encourage new IPOs
from private sector companies in key economic sectors that contribute to the country's gross
domestic product.

The incentives included financial support to the cost of listing on the bourse, post-listing suppo
through participation in its international roadshows regionally and globally, and a three-year
waiver on listing fees.

The same year, Dubai also revealed plans to list 10 government and state-owned companies o
the DFM as part of a broader strategy to double the financial market's size to Dh3 trillion.

https://www.thenationalnews.com/business/markets/2025/03/11/uae-set-for-up-to-eight-ipos-this-year-raising-about-10bn-emirates-nbd-capital-ceo-says/ 2/5