Dubai: The success of recent IPO listings in the United Arab Emirates and the GCC was recognised as a strong regional economic catalyst at a conference in London this month hosted by HSBC with Dubai Financial Market (DFM).

The exchanges summit, featuring keynote speakers from across the region and HSBC, was part of the first pan-regional stock exchange event hosted by HSBC Bank Middle East. The conference connected the exchanges with international investors, Middle East policymakers and stakeholders from across the public and private sectors.

“Having world class global banking and markets capabilities in the Middle East is how we helped clients in the region raise more than US$19 billion from investors worldwide in 2021, placing us on top of Bloomberg’s equity and debt rankings in 2021,” said Stephen Moss, Regional Chief Executive for the Middle East, North Africa and Turkey (MENAT).

“The UAE economy is a hub of market activity across the Middle East, as evidenced by the past year’s boom in IPO listings across the country. Despite ongoing global challenges, the UAE economy has been resilient and that is reflected in surging demand from investors, seeking access to this rapidly-emerging market. We are excited to connect our global investors to the opportunities in the UAE and that is why we’ve convened this event,” said Abdulfattah Sharaf, CEO of HSBC UAE and Head of International Middle East.

Topics on the agenda included economic diversification and capital market growth in the Emirates, ESG, and global energy demand.

“International investors are actively participating in our market, maintaining nearly 52% of trading activity and 23% of ownership. On the other hand, our listed companies are increasingly opening up to foreign investors. For instance, Aramex recently allowed 100% foreign ownership. These positive indicators and initiatives strengthen Dubai capital markets position at the forefront of the most welcoming and receiving of foreign investments in the region,” said Hamed Ali, CEO of DFM and Nasdaq Dubai.

“The success of the roadshow as shown by number of institutions and meetings, is also another testament on the robust demand as Dubai accelerates steps to implant its ambitious strategy to develop financial markets and provides further impetus to our constant efforts to invigorate trading activities and attract more local and international investments,” Mr Hamed added.

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Media enquiries to:
Will Blair 
will.blair@hsbc.com
Atef Fathy
Vice President – Head of Media & Public Relations, Dubai Financial Market
afathy@dfm.ae

About HSBC in the MENAT region

HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi British Bank (SABB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$71bn as at 31 December 2021.

About DFM

Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 Billion, DFM became a public joint stock company and its shares were listed on 7 March 2007 with the trading symbol (DFM). Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae.