UAE: Residents can buy shares in these recently-listed companies

UAE: Residents can buy shares in these recently-listed companies

UAE residents and investors can buy shares of a number of government and semi-government entities that have been listed on the local bourses.

In the coming months, more public sector companies’ shares will be sold to residents and investors.

Since government entities enjoy sovereign backing, retail investors tend to have more trust and confidence in such companies.

Dubai government announced that it will launch initial public offerings (IPOs) of 10 entities and list them on the Dubai Financial Market to improve liquidity. While 13 entities – both public and private – are expected to list their shares on the Abu Dhabi bourse.

Below is the list of government-backed entities which UAE residents and investors can buy shares of now and in the coming months:

Dubai Electricity and Water Authority (Dewa) was the first Dubai entity to sell its shares this year. The UAE residents can buy Dewa shares through Dubai Financial Market. The utility services provider had set the final offer price of Dh2.48 per share during its IPO. On Thursday, its shares were trading at Dh2.58 on DFM

Tecom Group, a member of the Dubai Holding Group, on Thursday set the price range for its initial public offering (IPO) between Dh2.46 and Dh2.67 per share.