SOEs, fintechs, family firms spur Mena IPO boom

SOEs, fintechs, family firms spur Mena IPO boom

DIFC, which is home to more than 230 investment banks, all of which are stimulating capital markets, is driving this growth as an attractive jurisdiction for incorporation.

Published: Mon 27 May 2024, 7:41 PM Last updated: Mon 27 May 2024, 7:42 PM

The Middle East capital markets are becoming more mature as they undergo an IPO boom driven by state-owned enterprises (SOEs), family businesses, fintech and tech-enabled firms, Dubai International Financial Centre said.

The regional IPO growth is expected to be sustained in three phases. First, the continued privatisation of state-related entities, followed by listings by family-owned companies, and lastly, FinTech and tech-enabled start-ups, according to DIFC’s Regional Outlook for Banking and Capital Markets’ report published in partnership with LSEG Data & Analytics.

DIFC, which is also home to more than 230 investment banks, all of which are stimulating capital markets, is driving this growth as an attractive jurisdiction for incorporation, through its business-friendly approach towards the rule of law, and how the centre has grown as a venue for global investors, said John Wilkinson, head of Emerging Markets Equity Capital Markets and managing director of Goldman Sachs.

Dubai’s capital reforms, aligned with best practices have helped create greater opportunities for investors in different themes