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Up to 5 UAE firms mull IPOs in 2017 – NBAD official

Up to 5 UAE firms mull IPOs in 2017 – NBAD official
The Abu Dhabi Securities Exchange (ADX) did not witness any listings this year (Photo Credit: Arabianeye-Reuters)

By: Ramy Sameeh

Abu Dhabi – Mubasher: Around four or five companies are currently considering listing their stocks in the Dubai and Abu Dhabi bourses next year.

These companies, which prepare to go public, operate in different sectors, Majd Maaitah, managing director of Securities and Funds Administration Services at the National Bank of Abu Dhabi (NBAD), told Mubasher.

The Abu Dhabi Securities Exchange (ADX) did not witness any listings this year, while the Dubai Financial Market (DFM) welcomed the listing of Kuwait's National International Holding in mid-November 2016.

Massar Solutions, Gulf Capital, and Tasweek Real Estate Development and Marketing are examining the possibility of launching initial public offerings (IPOs) on the ADX, according to data by Mubasher.

Al Shafar General Contracting Co., Daman Investments, Emirates District Cooling (Emicool), Al Habtoor Group, Emaar Hospitality Group, Mawarid Finance Rivoli Group and Able Logistics Group also plan to list their stocks on Dubai’s exchange.

Translated by: Julian Nabil