The Dubai Financial Market and the Dubai Chamber of Commerce, together with 20 regional and international consulting firms, announced the launch of the IPO Accelerator Program to support the growth of regional companies and accelerate their transition to listed companies.

The new plan falls within the framework of the “Dubai Economic Agenda D33” plans, which aim to strengthen Dubai’s leading position as a global business and financial center, and reflect concerted efforts to increase the strength and momentum of capital markets in Dubai.

Global cooperation

The Dubai Financial Market and Dubai Chamber of Commerce, one of three chambers operating under the Dubai Chambers umbrella, collaborate with a number of local and international consultancies to accelerate growth and become an integral part of the comprehensive financial and business community in Dubai. Private companies operating in the region, and supporting their efforts to undertake IPOs.

At a time when the Dubai financial market is one of the most dynamic markets, the project caters to the aspirations of private companies seeking to take advantage of the opportunities offered by Dubai’s fast-growing economy. It attracted five leading public and private companies in the world in terms of public offerings and company listings in 2022, which succeeded in raising 31 billion dirhams.

Support and guidance

Hamad Ali, CEO of Dubai Financial Market and Nasdaq Dubai, said: “The IPO Accelerator program provides knowledge, support and guidance to companies to explore opportunities for public offerings and contribute to the growth of Dubai’s economy.” Within the framework of efforts aimed at strengthening the working environment in a way that best suits the aspirations of companies to access public subscription and raise capital through the Dubai Capital Market.

Capital raising

For his part, Mohammed Ali Rashid Lootah, Director General of Dubai Chambers affirmed, “The partnership with the Dubai Financial Market is pushing various companies to create an enabling environment for public listing or offering their shares for public subscription. Capitalize their growth and help them at the same time.” It is an extension of the MoU signed between the two parties last year to build a relationship of trust with investors and improve the transparency of its dealings with them.In line with Dubai’s economic ambitions to double the size of the economy by 2033, launch a number of joint initiatives to support the business community, including the Public Offering Accelerator Program, and position itself as one of the three largest Raise one of the world’s cities.

Workshops

The Public Offering Accelerators Program targets large family and private companies and other companies within sectors that can benefit from the capital markets in Dubai and offer opportunities for growth.

Within this program, the Dubai Financial Market and Dubai Chamber of Commerce will organize workshops to qualify private companies, with the participation of experts from local and international consulting firms. Public offers to prepare their plan for this strategic move.

Through the workshops, ideas and observations will be gathered to identify challenges companies may face and ways to address them, while highlighting the growing importance of Dubai as a highly favorable location for companies to grow and develop. The first workshop will also be held in May 2023 in which 40 private companies from various sectors will participate.

Program partners

Project Partners: Hermes Financial Group, Arkham Capital, Goldman Sachs, Bank of America, Morgan Stanley, HSBC Bank Middle East Limited, Citi and Barclays. JP Morgan, Rothschild & Co, Tenuo Partners, EY, Ibrahim & Co., Al Tamimi & Co, Emirates NBD, PwC Middle East, White & Case Mullis & Company, Grant Thornton and Edelman Smithfield.