By Amr Adel
Dubai – Mubasher: The UAE equity market may see initial public offerings for three or four companies operating in investment, healthcare and education sectors, said Majd Al Maaytah, head of Securities Services Department at National Bank of Abu Dhabi.
However, these companies are awaiting the right time to go public, he added.
The statement came during the Arab IPO Summit 2015 that kicked off today in Dubai.
Following stalled activity for several years, IPOs re-emerged in Dubai last year. Securities and Commodities Authority (SCA) President said in July several UAE companies shelved the share offering plans due to weakness in the equity market.
It is unlikely that these companies will list their shares in local bourses this year, said Al Maaytah, expecting such a move to be delayed till next year, since this year is already coming to a close and IPO procedures usually require long periods.
Maaytah also highlighted the reports issued by global institutions, which expect $1.2 billion to be injected in UAE markets next year via new share offerings.
Translated by Sayed Abdel Rahman
