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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

In Saudi Arabia, the Arab world’s largest economy, there are expected to be about 30 IPOs this
year.

“Saudi Arabia continues to be very active. They have two exchanges and both are active," Mr
Asarpota said. “One is the Nomu exchange, where the smaller stocks list. They tend to see 15
20 IPOs on that exchange and then between seven and 10 IPOs on the main exchange
[Tadawul].”

Tech push
He also expects more technology companies to be listed on local bourses following the Alpha
Data listing and the government's plans on boosting the digital economy to support technology
infrastructure.

The UAE launched its Digital Economy Strategy in 2022, which it wants to use to double the
contribution of the digital economy to the country's GDP from 9.7 per cent in 2022 to 19.4 per
cent within 10 years. The country also launched an AI Strategy, aimed at making the Emirates
"the first in the field of AI investments in various sectors".

Last year, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and
Minister of Defence, also approved the new phase of the Dubai Metaverse Strategy, which aim

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