Dubai Financial Market (DFM) and Dubai Chamber of Commerce have launched an IPO fast track scheme to support businesses in the region on the road to capital market listing.

The two bodies will be working with 20 international and regional advisory partners including Bank of America, Barclays, Al Tamimi & Co, Emirates NBD, EFG Hermes, Emirates NBD, Goldman Sachs and PwC Middle East.

The initiative is in response to growing interest from the private sector in Dubai to leverage capital markets, the two bodies said.

It is aimed at family businesses, large private companies, and businesses from sectors that can benefit from the opportunities afforded by Dubai’s capital markets.

DFM and Dubai Chamber and advisors will conduct workshops to prepare businesses and offer one-on-one meetings with key prospects to create a customised route towards an IPO, as well as to identify and resolve any challenges.

The first workshop is due to take place in May 2023 with the participation of 40 private companies from various sectors.

DFM saw IPOs from with five government-related and private companies in 2022 with a total value raised of AED 31 billion.

(Reporting by Imogen Lillywhite; editing by Seban Scaria)