WAM
30 Mar 2023, 23:16 GMT+10
DUBAI, 30th March, 2023 (WAM) -- The Dubai Financial Market (DFM) and Dubai Chamber of Commerce, in partnership with 20 regional and global advisors, today announced the launch of 'The IPO Accelerator Programme' to support businesses in the region on their path to growth and IPO, increasing the momentum of the emirate's capital markets. The Programme is part of the Dubai Economic Agenda D33 projects that aim to strengthen Dubai's leading position as a global commercial and financial hub.
DFM and Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, are partnering with numerous local and international advisory firms that are a key part of Dubai's financial and business ecosystem to accelerate the growth of regional private companies and nurture them for the IPO journey. The Programme's partners include Al Tamimi & Co, Arqaam Capital, Bank of America, Barclays, Citi, deNovo Partners, Edelman Smithfield, EFG Hermes, Emirates NBD, EY, Goldman Sachs, Grant Thornton, HSBC Bank Middle East Limited, IBRAHIM .N. PARTNERS, J.P. Morgan, Moelis & Company, Morgan Stanley, PwC Middle East, Rothschild & Co, and White & Case LLP.
The Programme responds to the growing interest from the private sector in Dubai to leverage capital markets, given the opportunities generating from Dubai's rapidly growing economy as well as companies' eagerness to tap into capital markets to implement their growth strategies. In 2022, DFM became one of the most active markets globally for IPOs and listings attracting five leading government-related and private companies that successfully raised AED 31 billion.
"We are proud to launch The IPO Accelerator Programme with Dubai Chamber, which is aligned with our efforts to create a conducive environment for companies to go public and raise capital through Dubai's capital market. This Programme will provide businesses with the necessary education, support, and guidance to explore their IPO opportunity and contribute to the growth of Dubai's economy," said Hamed Ali, CEO of DFM and Nasdaq Dubai.
For his part, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said, "We are delighted to partner with DFM to create an environment where various companies that consider public listing or going public through IPOs can find the capital they need to grow while building visibility and credibility with investors. Following an MoU we signed with DFM last year, the IPO Accelerator Programme is one of the many collaborative initiatives we have planned to support the business community. More importantly, this programme aligns with Dubai's economic ambitions to double the size of the economy by 2033 and consolidate its position among the top three global cities."
'The IPO Accelerator Programme' is aimed at family businesses, large private companies, and businesses from sectors that can benefit from Dubai's capital markets, creating opportunities for growth. As part of the Programme, DFM and Dubai Chamber along with advisory firms will conduct workshops to prepare businesses and offer one-on-one meetings with key prospects to create a customised route towards an IPO as well as to identify and resolve any challenges, with a focus to making Dubai an even more desirable destination for businesses to grow from. The first workshop is due to take place in May 2023 with the participation of 40 private companies from various sectors.
Once these businesses consider going public, 'The IPO Accelerator Programme' will liaise with key advisors to make the necessary introductions, work with financial advisors for an IPO readiness check, and prepare a listing plan. DFM and Dubai Chamber will provide ongoing support to the company as they progress through the IPO process.
Get a daily dose of Herald Globe news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Herald Globe.
More InformationISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued...
VENICE, Italy: Over the weekend, hundreds of protesters marched through the narrow streets of Venice to voice their opposition to billionaire...
PARIS, France: France is taking stronger steps to reduce smoking. A new health rule announced on Saturday will soon ban smoking in...
WASHINGTON, DC - U.S. President Donald Trump on Tuesday claimed Elon Musk's success has been built on government subsidies. Without...
EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
Jaipur (Rajasthan) [India], July 2 (ANI): The much-anticipated LEGEN-Z T10 League will be played from August 7 to August 13 at the...
New Delhi [India], July 2 (ANI): The Board of Control for Cricket in India (BCCI) Ombudsman Justice (Retd) Arun Mishra has directed...
Mumbai (Maharashtra) [India], July 2 (ANI): Actor-comedian Kapil Sharma is back with another episode of 'The Great Indian Kapil Show,'...
Birmingham [UK], July 2 (ANI): Former head coach and cricketer Ravi Shastri didn't mince his words while expressing his discontent...
Birmingham [UK], July 2 (ANI): Indian and England players were wearing a black armband before the start of play on Day 1 of the second...
New Delhi [India], July 2 (ANI): Olympians Anjum Moudgil (also world championship silver medalist) and Saurabh Chaudhary and world...