Abu Dhabi launches $1.3 billion IPO fund

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13th Oct, 2021. 12:47 pm
Abu Dhabi launches $1.3 billion IPO fund

Abu Dhabi

ABU DHABI: Abu Dhabi has launched an IPO fund that will target investing in 5 to 10 companies annually, with a focus on the Small and Medium Enterprises (SMEs) to enhance the position of the Abu Dhabi Securities Exchange, Arab News reported.

Abu Dhabi Media Office reported that the value of the fund will be AED5 billion ($1.3 billion) to strengthen the local stock market.

“The Abu Dhabi IPO Fund will incentivise more private companies, including SMEs, to list, by providing liquidity and by building additional confidence around IPOs through the encouragement of additional private sector investment,” Mohamed Ali Al Shorafa, chairman of the Abu Dhabi Department of Economic Development, said.

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