Abu Dhabi launches AED 5bn IPO Fund to support private companies' growth

abu, fund, dhabi, ipo, private,
UAE

Abu Dhabi launches AED 5bn IPO Fund to support private companies' growth

The Supreme Council for Financial and Economic Affairs has launched the Abu Dhabi IPO Fund worth AED 5 billion to foster Abu Dhabi Securities Exchange (ADX)’s position as a leading stock market, the Abu Dhabi media office reported. To be managed by the Abu Dhabi Department of Economic Development (ADDED), the fund will invest in five to ten private companies per year, focusing on small and medium-sized enterprises (SMEs). With a target ticket size of between 10 and 40% of the float, the fund seeks to enable private companies to grow by supporting them through the IPO process. The IPO Fund will also cooperate with local banks to benefit from their expertise in the listing process and add additional capital from private co-investors to enhance the position of listing companies. The said:

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