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DFM, Dubai Chamber Of Commerce Launch A ‘IPO Accelerator Program’



DFM, Dubai Chamber Of Commerce Launch A 'IPO Accelerator Program'

Dubai’s Financial Market (DFM) and Dubai Chamber of Commerce have joined hands with 20 local and global advisors to introduce ‘The IPO Accelerator Program’.

This program aims to assist regional businesses in their growth and IPO journey and promote the emirate’s capital markets. The program is a part of the D33 projects under the Dubai Economic Agenda, which aims to reinforce Dubai’s position as a leading global commercial and financial hub.

DFM as well as the Dubai Chamber of Commerce and Industry have teamed up with several international and local advisory firms, all of which are a part of Dubai’s financial and business ecosystem, to speed up the growth of regional private companies and prepare them for the IPO journey.

Al Tamimi & Co, Arqaam Capital, Bank of America, Barclays, Citi, Denovo Partners, Edelman Smithfield, 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 are program partners.

By going public and listing on the DFM in 2022, five major government-linked and private companies have raised Dh31 billion

The IPO Accelerator Program has been introduced in response to the rapidly growing interest from the private sector in Dubai, which seeks to benefit from the capital markets. The opportunities that arise from Dubai’s rapidly growing economy and the eagerness of companies to access capital markets to execute their growth plans are the key main driver factors.

By going public and listing on the DFM in 2022, five major government-linked and private companies have raised Dh31 billion

Five top government-related and private companies raised AED 31 billion by going public and listing on DFM in 2022, making it one of the most active markets globally for IPOs and listings. Hamed Ali, CEO of DFM & Nasdaq Dubai, expressed his pride in launching The IPO Accelerator Program in partnership with Dubai Chamber. 

The program is aligned with its objectives of creating a favorable environment for businesses to raise capital through Dubai’s capital market.

He emphasized that the program would provide businesses with the necessary education, support, and guidance to explore their IPO opportunities and contribute to the growth of Dubai’s economy.

Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, expressed his delight in collaborating with DFM to provide an environment where companies seeking to go public through IPOs or public listings can access the necessary capital to grow while establishing visibility and credibility with investors. 

As part of their great efforts to support and give assistance to the business community, Dubai Chambers signed an MoU with DFM last year.

The IPO Accelerator Program is one of the huge collaborative initiatives that they have ever planned, which is in line with Dubai’s economic ambitions plan to double the size of its economy by 2033  sure shot to become one of the top three global cities.

The goal of the ‘IPO Accelerator Program’ is to assist family businesses, large private companies, and sectors that can benefit from Dubai’s capital markets, offering growth opportunities. The program will provide one-on-one meetings and workshops to prepare businesses for an IPO, identify and resolve any obstacles, and develop a tailored plan for an IPO.

DFM, Dubai Chamber, and advisory firms will collaborate on this program to make Dubai a more desirable location for business expansion.

The first workshop is planned for May 2023, and 40 private companies from various sectors are expected to participate.

When these businesses contemplate going public, ‘The IPO Accelerator Program’ will connect them with key advisors, assist in introductions, perform an IPO readiness check with financial advisors, and prepare a listing plan. DFM and Dubai Chamber will continue to support the businesses as they go through the IPO process.

Dubai Financial Market (DFM) is a public institution with a corporate body that is independent of the government.

It is a secondary market that allows the trading of securities issued by public shareholding companies, bonds issued by the Federal Government, local governments, and public institutions in the country, units of investment funds, and any other financial instruments accepted by the market, whether local or foreign. 

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On March 26, 2000, Dubai Financial Market (DFM) commenced operations as a public institution with its separate corporate entity. Seven years later, in 2007, it became the first exchange in the world to be Islamic Shari’a-compliant.

In 2006, DFM raised funds by offering 1.6 billion shares, equivalent to 20% of its paid-up capital of AED 8 billion, through an initial public offering.

Following the IPO, DFM became a public joint-stock company, and its shares were listed on March 2007, under the trading symbol (DFM).

Presently, the Government of Dubai holds the remaining 80% of DFM Company through Borse Dubai Limited, which is a holding company that manages and looks after the government’s shares in DFM and other financial markets in Dubai.

The DFM plays a crucial role in Dubai’s economy by providing a comprehensive platform for investors and businesses to participate in the capital market and facilitating capital raising for national and international companies.

Alveera Khan is a passionate writer and blogger with a deep love for exploring new places and cultures. She is particularly enamored with Dubai's unique cultural blend, which serves as a constant source of inspiration for her writing. Alveera is known for her unbiased opinions and free-thinking approach to life, which allows her to offer fresh perspectives on a wide range of topics. She is also highly skilled in news writing and is always up-to-date on the latest current affairs

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