The IPO Accelerator Program has been launched to support regional companies in their transformation into listed companies by offering their shares for public subscription. The Dubai Financial Market and Dubai Chamber of Commerce have partnered with 20 regional and international consulting firms to offer the program as part of the “Dubai Economic Agenda D33” projects aimed at enhancing Dubai’s position as a global financial and commercial center. The program will provide workshops to qualify private companies and individual meetings to implement public offerings. The first workshop will be held in May 2023, and the program’s partners include prominent firms such as Goldman Sachs, JP Morgan, and EY. The program seeks to help companies raise the necessary capital for their growth, support them in their IPO endeavors, and enhance transparency in their dealings with investors.
The Dubai Financial Market and Dubai Chamber of Commerce, in partnership 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 transformation into listed companies by offering their shares for public subscription.
The new program comes within the framework of the “Dubai Economic Agenda D33” projects aimed at strengthening the leading position of Dubai as a global commercial and financial center, and reflects the concerted efforts to increase the strength and momentum of the capital markets in Dubai.
Global collaboration
Dubai Financial Market and Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, cooperate with many local and international advisory firms, which represent an essential part of the comprehensive financial and commercial system in Dubai, to accelerate the growth of private companies operating in the region, and support them in their endeavors to carry out IPOs. General.
The program meets the aspirations of private companies seeking to seize the opportunities offered by Dubai’s fast-growing economy, and to take advantage of the capital markets’ potential to implement growth strategies, at a time when the Dubai Financial Market is among the most active markets in the world in 2022 in terms of public offerings and company listings. It attracted five leading government and private companies, which succeeded in raising 31 billion dirhams.
Support and guidance
Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai, said: “The IPO Accelerator Program provides companies with knowledge, support and guidance to explore opportunities for public offerings and contribute to the growth of Dubai’s economy.” Pointing out that the program comes within the framework of efforts aimed at strengthening The work environment in the best way to keep pace with the aspirations of companies towards access to public subscription, and to raise capital through the capital market in Dubai.
Capital collection
For his part, the Director General of Dubai Chambers, Mohammed Ali Rashid Lootah, confirmed that “the partnership with the Dubai Financial Market pushes towards developing an environment that enables various companies seeking public listing or offering their shares for public subscription, to raise the necessary capital for their growth, and help them at the same time.” To build a relationship of trust with investors, and to enhance the transparency of its dealings with them, as an extension of the Memorandum of Understanding signed between the two parties last year to launch many joint initiatives to support the business community, including the public offering accelerator program, in line with Dubai’s economic aspirations to double the size of the economy by 2033, and enhance Its position is among the three largest global 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 provide opportunities for growth.
Within this program, the Dubai Financial Market and the Dubai Chamber of Commerce, with the participation of experts from local and international consulting firms, will organize workshops to qualify private companies. The program will also organize individual meetings with the most prominent potential companies to implement public offerings in order to prepare their plan for this strategic step.
Through the workshops, ideas and observations will be collected to identify the challenges that companies may face and ways to solve them, while highlighting the growing importance of Dubai as a more favorable location for the growth and development of companies. The first workshop will also be held in May 2023, with the participation of 40 private companies from various sectors.
Program partners
The program’s partners include: Hermes Financial Group, Arqaam Capital, Goldman Sachs, Bank of America, Morgan Stanley, HSBC Bank Middle East Limited, Citi, and Barclays. JP Morgan, Rothschild & Co, Denuvo Partners, EY, Ibrahim & Co., Al Tamimi & Co, Emirates NBD, PwC Middle East, White & Case Mullis & Company, Grant Thornton, and Edelman Smithfield.
In conclusion, the IPO Accelerator Program launched by the Dubai Financial Market and Dubai Chamber of Commerce, in partnership with 20 regional and international consulting firms, is a significant step towards supporting the growth of regional companies and their transformation into listed companies. This program is a reflection of the concerted efforts to increase the strength and momentum of the capital markets in Dubai and strengthen the leading position of Dubai as a global commercial and financial center. With the participation of experts from local and international consulting firms, private companies will receive the necessary knowledge, support, and guidance to explore opportunities for public offerings and contribute to the growth of Dubai’s economy. The program aims to build a relationship of trust with investors and enhance transparency in dealings with them. This initiative is in line with Dubai’s economic aspirations to double the size of the economy by 2033 and enhance its position among the three largest global cities. With the program’s potential to offer growth strategies, it is an opportunity for private companies to take advantage of capital markets to achieve their strategic vision.
