The Abu Dhabi Fund for Subscriptions received more than 50 applications from interested companies. It is expected that 8 to 9 companies will be listed with the support of the fund this year.
According to Arabia Net, Sameh Al Qubaisi, Director General of Economic Affairs at the Department of Economic Development in Abu Dhabi, confirmed that the Abu Dhabi Fund for IPOs helps companies that aim to be listed on the Abu Dhabi market.
Al Qubaisi indicated that the Abu Dhabi Fund for IPOs supports family companies to list them and works to prepare them for public offering, pointing out that 5 family companies have signed with the Abu Dhabi Fund for IPOs.
Al-Qubaisi stated that the fund also signed with 3-4 family companies owned by foreigners, and negotiations are underway with other companies to benefit from this service.
Al Qubaisi stated that the capital of the Abu Dhabi Fund for IPOs amounts to 5 billion dirhams, adding that the fund is working to support the diversification of the national economy.
He explained that the UAE financial markets are witnessing good levels of liquidity and large investments, stressing the role of the subscription fund in attracting the right investment to be listed in the financial market.
