Page 32 - AAE PR REPORT December 2023

12/21/23, 10:17 AM UAE 2023: A year in review - Arabian Business
a cameo appearance and an on-stage cameo from daughter Blue Ivy Carter to perform
Brown Skin Girl, fire, water, smoke and fireworks aplenty.

A year of IPOs

Dubai Taxi Company (DTC) announced its initial public offering (IPO) on the Dubai Financial
Market (DFM) in November, marking a huge milestone for the public sector. The Offer Price

Range was set between AED1.80 and AED1.85 per share, with a total of 624,750,000 shares,
equivalent to 24.99 percent of DTC’s total issued share capital, to be offered.

Another notable IPO in 2023 was that of ADNOC Logistics and Services, a key player in the

logistics sector. The company made its debut on the ADX in June, attracting significant

investor interest. ADNOC Logistics and Services raised an impressive $769.5 million in IPO
proceeds, indicating strong confidence in the logistics sector. With a first-day return of 55

percent, the company’s shares have continued to perform well, showing an impressive 82
percent increase in share price since its listing.

Al Ansari Financial Services, a prominent player in the banking and capital markets sector,

embarked on its IPO journey in April, with a listing on DFM. The company’s debut was met

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