Abu Dhabi accounts for 14% of global IPOs in first quarter of 2023 – The National

Abu Dhabi accounts for 14% of global IPOs in first quarter of 2023 – The National

Abu Dhabi has accounted for 14 per cent of all initial public offerings worldwide in the first quarter of 2023, an indication of the strength of its capital markets amid a challenging global IPO market, a new study has found.

The UAE capital attracted $3 billion worth of IPO proceeds in the three months ended March, placing it third worldwide, consultancy EY said in the latest edition of its Global IPO Trends report.

The top 10 was dominated by Asian markets, which took six spots. China's Shenzhen and Shanghai took the top two, accounting for 22 per cent and 20 per cent, respectively, and raising $4.7 billion and $4.3 billion.