UAE Stock Markets See AED 21.3 Billion Boost from New IPOs in 2024

HiDubai Newswire -

In 2024, the UAE's stock markets experienced a significant boost of AED 21.3 billion in market capitalization due to three major initial public offerings (IPOs). Alef Education Holding plc, Parkin, and Spinneys 1961 Holding plc led these IPOs, contributing to increased market liquidity and investment attractiveness.

  • Alef Education Holding plc: Achieved a market capitalization of AED 9.45 billion, with an IPO raising AED 1.89 billion and shares trading at AED 1.35 each.
  • Parkin: Listed on the Dubai Financial Market (DFM) in March, reaching a market capitalization of AED 6.3 billion. The IPO attracted AED 259 billion in subscription requests.
  • Spinneys 1961 Holding plc: Listed on the DFM in May, with a market capitalization of AED 5.5 billion and AED 71 billion in subscription requests.

These IPOs underscore the UAE's strategic efforts to enhance its financial markets and establish itself as a global financial hub.

News Source: Emirates News Agency