UAE: Can expats buy shares in listed companies?

UAE: Can expats buy shares in listed companies?

Most of the blue-chip companies listed on the DFM and the ADX allow expatriates to buy their shares.

Published: Fri 25 Mar 2022, 7:28 PM Last updated: Fri 25 Mar 2022, 7:46 PM

The Dubai Electricity and Water Authority (Dewa) on Thursday announced the launch of its initial public offering (IPO) to raise up to Dh8.06 billion, which is also open for expats in the UAE.

The share has been priced at a very attractive and competitive range of Dh2.25 to Dh.48 to bring in the maximum number of investors in the IPO. Since Dewa enjoys the sovereign backing of the Dubai government, the IPO will also attract a lot of small investors who generally prefer to invest their savings in stable stocks such as Dewa.

The utility services provider is not the first company to offer share sales to expatriates in the UAE. The UAE’s bourses — the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) — allow any individual or institution to apply for an Investor Number to trade on the two bourses.

Barring a few companies which have not yet allowed expatriates to buy shares, most of the blue-chip companies listed on the DFM and the ADX allow expatriates