|12 November, 2019

DFM's roundtable at Sharjah FDI Forum discusses IPOs and capital markets' opportunities

In cooperation with Shurooq and with the participation of 38 senior executives from 21 companies

DFM's roundtable at Sharjah FDI Forum discussesnbsp;IPOs and capital markets' opportunities
  • H.E. Essa Kazim: “Extending DFM’s successful IPO forum offers businesses in Sharjah an insight on ways to strengthen and sustain growth through IPOs and listing”
  • H.E. Marwan Al Sarkal: “Listing of family companies on the DFM will achieve many economic objectives and create new opportunities for owners as well the economy”

Dubai: As part of its constant efforts to showcase the dynamic role played by capital markets in strengthening and sustaining growth, the Dubai Financial Market (DFM) today organized a roundtable on the sidelines of the fifth edition of the Sharjah FDI Forum, held in cooperation with the Sharjah FDI Office (Invest in Sharjah), operating under the Sharjah Investment and Development Authority (Shurooq), at the Al Jawaher Reception and Convention Centre (JRCC).  The roundtable discussed IPOs and how private businesses can benefit from capital markets.

The roundtable was part of DFM’s efforts to achieve the objectives of the MoU signed by it and Shurooq in November 2017 to jointly promote awareness within private and family businesses in Sharjah on the prospects of aligning their growth strategies with DFM’s various listing platforms, including: the Main Listing, the Second Market platform for private companies, as well as the upcoming first-of-its-kind platform for free zone companies.

Attracting 38 senior representatives of 21 private companies from key economic sectors in Sharjah, such as real estate and developments; financial services; technology; retail; manufacturing /industrial; and oil and gas, the roundtable addressed details of the key stages of going public from company readiness and valuation, developing the equity investment story, to choosing the right time for going public and listing on the market. 

Saeed Al Awar, Managing Director, Head of Middle East, Rothschild & Co, moderated the roundtable in the presence of senior panelists from the IPO advisory firms, investment banks, capital markets and legal advisory firms. The list of speakers included Mohamed Fahmi, Head of Investment Banking – EFG HERMES; and Ahmed Ibrahim, Partner, Matouq Basioni & Ibrahim.

DFM also cooperated with Shurooq in organising a panel discussion titled ‘Raising Funds to Accelerate Corporate Sustainable Growth’ during the Sharjah FDI Forum. Expert panelists discussed various capital-raising options and offered practical tips on what companies could do to increase their investment appeal. The DFM-listed companies have raised more than AED 70 billion in funds to date through IPOs and capital increases aided by DFM since its inauguration in 2000.

Commenting on this, His Excellency Essa Kazim, Chairman of DFM said: “We are delighted to strengthen links with the Sharjah Investment and Development Authority (Shurooq) through this leading initiative. The roundtable underlines DFM’s commitment to extend its successful IPO forum that we have been continuously organising since 2009, to Sharjah in order to encourage private and family businesses to go public and list on the market. It has enabled us to update representatives of leading companies in Sharjah on ways to strengthen and sustain growth, advised by selected experts and advisors. Undoubtedly, the world-class regulations of DFM as well as its multiple listing platforms have opened the doors wide for companies looking to take this significant step to expand their business, whether in terms of value enhancement or succession planning. The market is also playing a vital role in connecting companies with potential investors, thus securing the necessary funds to implement growth strategies. Additionally, the implementation of post-IPO and listing best practices positively reflects on listed companies that can also benefit from DFM’s innovative issuer services.”

“The noticeable interaction from numerous leading companies in Sharjah during the roundtable   clearly indicates that they recognise the importance of going public and listing on the market. We are fully prepared to provide them with various possible ways of achieving this and provide support to help them realise this strategic step. Generally, encouraging private and family businesses to benefit from the capital market is one of the key pillars of DFM’s 2021 strategy aiming to expand issuers’ list, achieve healthy representation of the key economic sectors as well as diversify the investment opportunities for its large investor base,” H.E. Essa Kazim added.

His Excellency Marwan bin Jassim Al Sarkal, Executive Chairman of Shurooq said: “The Dubai Financial Market is one of the region’s premium stock exchange markets, given its legislative environment and the modern technologies it provides to companies and investors on a regional level. The Sharjah FDI Forum sees a unique opportunity behind hosting DFM’s IPO forum at this roundtable on IPOs and opportunities in capital markets. We believe that it is important to list businesses on the stock market, as this will have a positive impact on the economy at the national level.”

Al Sarkal added: “This roundtable is aimed at the large number of companies that have been established in Sharjah due to its attractive business environment. These businesses have achieved remarkable success and the time is ripe for them to initiate their transformation into public shareholding companies, given the great benefits associated with such a move. The implementation of governance and transparency will further the competitiveness, sustainability and expansion of these companies.”

The DFM also participated in the exhibition organised on the sidelines of the forum, where it showcased its innovative products and services as well as distributed its practical guides to various market participants.

-Ends-

About Dubai Financial Market: 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. 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. Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae

For further information, please contact:

Atef Fathy
Vice President- Head of Media & Public Relations

Dubai Financial Market
Tel: 04-3055334
Email: afathy@dfm.ae 

© Press Release 2019

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