IPOs in the UAE: Residents can buy shares in seven public sector enterprises.

IPOs in the UAE: Residents can buy shares in seven public sector enterprises.

Residents and investors in the UAE can purchase shares in a variety of government and semi-government entities that have been listed on local exchanges.

More shares in public enterprises will be sold to residents and investors in the coming months.

Because government entities are backed by the government, ordinary investors have more faith and confidence in them.

To increase liquidity, the Dubai government announced that it will make initial public offers (IPOs) of ten firms and list them on the Dubai Financial Market. Meanwhile, 13 governmental and private organizations are anticipated to issue their shares on the Abu Dhabi exchange.

The list of government-backed companies that UAE citizens and investors can purchase shares of now and in the near future is provided below.

1. Dubai Electricity and Water Authority

  • This year, Dewa was the first organization in Dubai to sell its shares. Dubai Financial Market allows residents of the UAE to purchase Dewa shares. During its initial public offering, the utility services provider established the final offer price per share at Dh2.48.

2. Tecom Group

  • The company, a member of the Dubai Holding Group, sold 625 million shares as part of its international offering. At the top of the range, it fixed the final share price at Dh2.67.
  • Tecom is the second of ten privatizations that Dubai is considering as part of its strategy to strengthen its capital markets.

3. Salik

  • Through the initial public offering, the road toll operator will sell 1.5 billion shares, or 20% of the ownership (IPO). For retail investors and qualified investors, subscriptions will be available starting on September 13 and closing on September 20, respectively.
  • In a statement released on Monday, the business predicted that it would likely list on the Dubai Financial Market (DFM) around September 29.
  • Salik’s toll gates in Dubai can be changed or removed as a public joint stock corporation, and new toll gates can be added with the agreement of the relevant authorities.

4. Adnoc Drilling

  • Adnoc, a division of Abu Dhabi National Oil Company, raised $1.1 billion (Dh4 billion) through its initial public offering (IPO) the previous year. Shares of it debuted at Dh3.71.

5. Borouge

  • The company, a petrochemical corporation sponsored by Adnoc, set the price of its first public offering at Dh2.45 per share. Through the IPO, it raised more than $2 billion. Through the Abu Dhabi Securities Exchange, locals can purchase shares of the corporation with its headquarters in Abu Dhabi.

6. Fertiglobe

  • Fertiglobe, a firm supported by Adnoc, listed its shares on the Abu Dhabi Stock Exchange. In the IPO, its shares were valued at Dh2.55.

7. AD Ports

  • Following a Dh4 billion primary offering, the business made its debut on the Abu Dhabi Securities Exchange. On the first trading trade, the stock had started out at Dh3.5 per share.
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