The local stock markets attracted a new market capitalization during the year 2023 exceeded AED 267 billion (USD 72.70 billion), thanks to New initial public offerings, in line with the markets ‘ plans to double their market capitalization to within AED six trillion over the next three years, from their current levels of more than AED 3.65 trillion.
According to economic monitoring, the Abu Dhabi Securities Exchange acquired about AED 254.68 billion of the new market capitalization, while the share of the Dubai Financial Market reached about AED 12.3 billion.
“Adnoc gas” came in the lead, with its market value at the time of listing on the Abu Dhabi Securities Exchange about 182 billion dirhams at a price of 2.37 dirhams per share, then “biohealth” after adding about 36.2 billion dirhams at the offering price of 3.26 dirhams per share, followed by “ADNOC supply and Services Plc” with a market value at the time of listing about 14.87 billion dirhams at a final price of 2.01 dirhams per ordinary share.
The market value of the shares of “Phoenix Group” when listed on the Abu Dhabi Securities Exchange amounted to about 9.07 billion dirhams,”price A. I. Holding Plc” 7.5 billion dirhams, and”Investcorp capital” for Capital Services about 5.04 billion dirhams.
In the Dubai Financial Market, the market value of the shares of “Ansari Financial Services Group” at the time of listing reached about 7.73 billion dirhams at an offering price of 1.03 dirhams, while the capitalization of “Dubai Taxi” at the time of listing amounted to about 4.6 billion dirhams and a final offering price of 1.85 dirhams per share.
The initial public offerings and new listings have contributed to increasing the depth of the markets, enhancing their investment attractiveness, and attracting a new segment of investors, thus consolidating the position of the financial markets in the country as one of the most important financial and business markets in the world.
The offers witnessed a great demand from investors, sovereign funds and global investment portfolios, with the total demand for 6 of these offers reaching more than AED 1.43 trillion, reflecting the great confidence in the strong economic approach adopted by the UAE in its major companies and institutions, in addition to providing attractive opportunities and wider investment options for investors to participate in the strong growth of the national economy.
