Ahmed Ali Al -Shurafa, Chairman of the Board of Directors of the Department of Economic Development in Abu Dhabi, said that the emirate may witness three initial public offering operations for the shares of companies during the remainder of the current year and 11 operations during the next year, in light of the continued prosperity of the initial offering operations that make the Middle East region in general A bright point in light of the difficulties facing the sale of new shares in the world’s markets.
Al -Sharaf added in an interview with Bloomberg TV, that the next year will be amazing for the initial offering operations in Abu Dhabi, “There are more than 11 companies either in the consultation stage or in the final stages to obtain approval to include them on the Abu Dhabi Stock Exchange. ”
Al -Sharif pointed out that the launch of a fund with a capital of 5 billion dirhams (1.
36 billion dollars) to encourage the listing operations on the stock exchange months ago contributed to the revival of this sector.
The Bloomberg News Agency quoted honorable people as saying that the fund witnessed an influx of private companies and the family ownership that seeks to obtain government support before it was included in the stock exchange.
Al -Sharaf said that the Bergel Holding Company, which raised 300 million dollars, was included in the first public offering process for its shares, through the fund, which also follows companies in the areas of manufacturing, health care and financial services.
Bloomberg stated that the offering operations in the Middle East stock exchanges, especially Riyadh, Abu Dhabi and Dubai, are of strong attention from investors, and attracted about $ 18 billion during the current year, equivalent to about half the total value of the initial proposals in Europe, the east, Middle and North Africa as a whole..
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