Page 228 - AAE PR REPORT - June 2024

5/29/24, 3:54 PM PRESSR: DIFC publishes Regional Outlook for Banking and Capital Markets — TradingView News
Commenting on the report’s findings, Arif Amiri, Chief Executive

Officer, DIFC Authority, said: “Driven by the surge in IPOs, capital

markets across the MENA region have experienced remarkable

expansion, driven by reforms aimed at enhancing market

infrastructure and fostering greater foreign and regional investment

inflows. With its strategic initiatives and robust regulatory

framework, DIFC plays a pivotal role in driving innovation and

stimulating growth within the financial sector. Dubai’s IPO boom

underscores the city’s status as a thriving hub for capital markets,

and DIFC’s role in enabling this acceleration through the firms that

drive capital markets and provide advisory services for IPOs will

continue to contribute to the dynamic evolution of global finance.”

Multifactor IPO Growth

Following two years of moderate IPO activity, 2024 shows signs of a

rebound supported by the postponement of several 2023 deals in

anticipation of more favourable market conditions. Based on data

published by EY, 51 IPOs took place in 2022, raising USD 22bn,

including a mix of both family businesses and the public sector.

The privatisation of state-related entities is leading to greater

economic diversification, private sector development and sovereign

liquidity creation. As of March 2024, Dubai had followed through on

six out of the ten government entities it plans to take public,

including Parkin, which was 165 times covered and attracted USD

71bn in orders – a new record for the emirate.

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