The Abu Dhabi Securities Exchange is preparing to receive new offerings during the remainder of 2022, as 3 companies are expected to offer their shares for public subscription on the stock exchange during the coming period, according to the head of the Abu Dhabi Department of Economic Development, Muhammad Ali Al-Shurafa.

Speaking to Bloomberg TV, Al-Shurafa added that more than 11 companies are in the advisory stage or have reached final stages of requesting approval for listing on the Abu Dhabi Securities Exchange.

In October 2021, the Emirate of Abu Dhabi launched a fund to support initial public offerings, with an initial value of 5 billion dirhams ($1.4 billion).

Al-Shurafa said that the establishment of the fund helped increase the number of IPOs with the participation of family and privately owned companies that sought government support upon listing.

According to Al-Shurafa, Burjeel Holding Company for Medical Services was among the companies whose shares were listed through the fund. The company listed its shares on October 10, 2022.