DFM-listed firms raise Dh60b through IPOs

DUBAI: Companies listed on the Dubai Financial Market (DFM) have raised more than Dh60 billion of funds through initial public offerings (IPOs) and capital increases since its inauguration in 2000 to date.

IPOs provide the main stream to diversify investment opportunities on the market, enabling investors to participate in the high growth achieved by various economic sectors, experts at the fourth DFM IPO Forum said.

"Promoting going public is one of the main pillars of DFM's Strategy 2021 and further strengthens the IPO pipeline," said Essa Kazim, chairman of DFM.

He also added that IPOs and listing contribute in value creation, as several listed companies gained between 85 per cent and 99.5 per cent of their current market capitalisation after listing on the DFM. Kazim also shed light on the latest developments in Dubai's capital markets and the efforts to strengthen the emirate's position as a capital markets hub. He explained the DFM's proactive approach to encourage private and family businesses to go public and list on the market as a significant step in their evolution as well as achieving succession planning. Going public and listing have countless benefits for companies through the implementation of best practices as part of compliance with the listing requirements, he said.