Dubai set to host inaugural edition of Mena IPO Summit

Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Higher Committee for the Development of Financial Markets and Exchanges in Dubai, on Sunday said that the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has led to the transformation of Dubai’s financial markets and its emergence as a pivotal global financial hub.

Sheikh Maktoum’s remarks were made on the occasion of the city hosting the Mena initial public offering (IPO) Summit, which will be held from today (Jan.23rd) until Jan.25 at the Museum of the Future in Dubai.

The inaugural edition of the Summit, jointly organised by the Dubai Financial Market (DFM) and the Dubai World Trade Centre (DWTC), will shed light on the strong impetus and promising prospects of the IPOs sector in Dubai.

Sheikh Maktoum said: “Last year, Dubai accounted for 40 per cent of IPO activity in the Gulf region, representing a value of AED673 billion. Driven by the ambitious goals of the Dubai Economic Agenda (D33), Dubai will continue to accelerate its economic growth momentum and consolidate its position as a major international financial centre.”

The Summit will gather industry experts who will share first-hand knowledge of the IPO process and the opportunities and challenges of becoming a public company, as well as how to advance ESG agendas.

It will also showcase a roadmap for startups and SMEs in Dubai, including expertise around its regulatory environment, business culture and capital opportunities for scaling ventures through to an IPO.

Mena IPO Summit will provide a platform for industry-shaping discussions, providing institutional investors, family businesses and startups with the opportunity to explore the latest regulations, best practices, and market trends in the Dubai capital market as well as learning about recent regional IPO success stories.

Attendees will have the opportunity to engage with key IPO issuers and thought leaders from the investment and capital market industry.

The Summit will spark lively discussion between issuers, investment experts, regulators and companies undergoing strategic preparations for a future listing.

Meanwhile the Dubai Financial Market (DFM) and the Dubai World Trade Centre (DWTC) announced their partnership to host the Mena IPO Summit – Dubai, an essential new platform set to unite the entire IPO value chain and the region’s only IPO-focused summit. The inaugural Summit will shed light on the strong impetus and promising prospects of the initial public offerings (IPOs) sector in Dubai.

The launch of this event Series comes at an opportune time for Dubai and the wider region’s investment community following record IPO activity – large-scale initial public offerings have been a mainstay of the regional business landscape in 2022 and the expected momentum in 2023.

During 2022, DFM has strengthened its role in empowering economic development in Dubai and the UAE, as an efficient fund-raising platform through IPOs and listings of five government-related and private sector leading issuers namely: DEWA, Tecom, Salik, Empower and Taaleem. These companies have successfully raised more than Dhs31 billion and their IPOs witnessed remarkable oversubscriptions drawing Dhs672 billion of subscribed amounts.

Taking place from January 23rd to 25th 2023 at The Museum of the Future, the Summit will gather industry experts who will share first-hand knowledge of the IPO process and the opportunities and challenges of becoming a public company, as well as how to advance ESG agendas. It will also showcase a roadmap for startups and SMEs in Dubai, including expertise around its regulatory environment, business culture and capital opportunities for scaling ventures through to an IPO.

Helal Al Marri, Director General of Department of Economy and Tourism in Dubai, said: “The organisation of this flagship gathering stems from DWTC and DFM’s mutual efforts to showcase the favorable dynamics and latest developments of the IPO sector. Dubai capital markets are witnessing robust IPO and listing activities supported by the strong fundamentals of Dubai’s economy as well as the successful implementation of Dubai’s strategy to develop its financial market in a number of areas. The new markets’ ecosystem and its regulatory enhancements have created an attractive environment for various types of businesses such as government-related conglomerates, private corporations and family businesses to going public and listing through an array of listing options that cater to their requirements in terms of size, growth stage and jurisdiction.”

Hamed Ali, CEO of DFM and Nasdaq Dubai, said: “With the increased momentum in Dubai capital markets in terms of listings and investors’ engagement, we are delighted to launch the Mena IPO Summit - Dubai as an important catalyst to exploring market opportunities in collaboration with capital market and IPO experts. DFM’s primary focus continues to be to develop a vibrant and progressive capital market ecosystem in partnership with all market stakeholders.”

The Summit will provide a platform for industry-shaping discussions, providing institutional investors, family businesses and startups with the opportunity to explore the latest regulations, best practices, and market trends in the Dubai capital market as well as learning about recent regional IPO success stories. Attendees will have the opportunity to engage with key IPO issuers and thought leaders from the investment and capital market industry.

The Summit will spark lively discussion between issuers, investment experts, regulators and companies undergoing strategic preparations for a future listing.

Experts set to share their insight include Dr Maryam Buti Al Suwaidi, CEO Securities and Commodities Authority (SCA); Hamed Ali, CEO, DFM and Nasdaq Dubai; Mohammad Al Bastaki, CEO, Emirates NBD Capital; Fadi Ghandour, Managing Partner, Wamda Capital; Thomas Varghese, CFO, Dubai Electricity and Water Authority (DEWA); Abdulla Belhoul, CEO, TECOM Group; Miguel Azevedo, Head of Investment Banking, Middle East & Africa & Managing Director, Citi.

The Summit is supported by a group of leading international financial institutions including HSBC and Emirates NBD as Platinum Sponsors, Goldman Sachs, Rothchiled & Co. and Edelman Smithfield as Diamond Sponsors, and Moelis & Company as a Supporting Partner. It also enlists the Gold Sponsorship of BARCLAYS, Al Tamimi & Co, Arqaam Capital, EFG Hermes and Grant Thornton. BHM Capital, Century Financial, Protiviti, and Teneo are also supported the event as Networking Sponsors.

About Dubai Financial Market: Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of Dhs8 billion, DFM became a public joint stock company and its shares were listed on 7 March 2007 with the trading symbol (DFM).