Page 59 - AAE PR REPORT December 2023

12/12/23, 11:47 AM Dubai Taxi Jumps in Trading Debut After $315 Million Listing - BNN Bloomberg

The Dubai government raised $8.3 billion by selling stakes in four state-owned companies, including
the city’s main water and electricity utility, in 2022. The share sales are part of a plan unveiled about
two years ago to list 10 state-owned companies to boost flagging trading volumes and match similar
drives in Abu Dhabi and Riyadh.

A listing of Dubai Parking is expected to follow next year, Bloomberg News has reported.

There was a lull in listing activity in Dubai for most of the year, except for money exchange firm Al
Ansari Financial Services PJSC’s $210 million IPO in March, which was one of the first private firms to
go public in the United Arab Emirates.

Citigroup Inc., Emirates NBD Capital and Bank of America Corp. were joint global coordinators on the
Dubai Taxi IPO, while Rothschild & Co. acted as independent financial adviser.

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