Dubai’s capital markets have emerged as a vital platform for regional and international entities seeking to raise capital, with the emirate raising Dh 34.5 billion ($9.4 billion) in proceeds in the last three years.
The Dubai Financial Market (DFM) added that IPO demand has surpassed Dh1 trillion since 2021. Moreover, the emirate has witnessed the listing of 155 bonds and sukuk valued at AED484 billion on both the DFM and Nasdaq Dubai,
In 2023, the DFM crossed the 4,000-point milestone for the first time in eight years. This success was attributed to a “significant increase” in trading activities, heightened capital inflows, and a notable influx of new investors.
Moreover, the DFM has recently implemented various innovative market initiatives such as an enhanced digital platform, an IPO accelerator programme and the MENA IPO Summit.
As a result of these efforts, the DFM General Index (DFMGI) secured the fifth position globally in 2023, surpassing major global markets and attracting 230,000 new investors since 2022. The market also witnessed substantial growth in market capitalisation, rising from Dh582 billion at the end of 2022 to Dh688 billion during the same period in 2023.
“The accomplishments of the Securities and Exchange Higher Committee in advancing capital markets have played a crucial role in fostering growth and consolidating Dubai’s leading position on the global financial stage, aligning with our comprehensive vision for the emirate,” said HH Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and First Deputy Ruler of Dubai
The DFM’s first IPO of 2024 has been that of Parkin. Parkin witnessed unprecedented interest in its listing, with the total gross demand for the IPO reaching an impressive Dh259 billion ($71 billion) at the final offer price, marking a remarkable oversubscription.
