UAE - Mubasher: Al Ansari Exchange plans to list and trade its shares on Dubai Financial Market (DFM) during the first quarter (Q1) of 2023, Bloomberg recently reported.

Egyptian Financial Group Hermes Holding (EFG Hermes) and Emirates NBD will lead the initial public offering (IPO) of the UAE-based company.

Meanwhile, representatives for Al Ansari Exchange, Emirates NBD, and EFG-Hermes declined to comment on the listing process, according to the news portal.

Established nearly 60 years ago, the money-exchange firm currently runs its business in more than 200 branches across the UAE.

Last April, the investment banking division of EFG Hermes closed the IPO for Dubai Electricity and Water Authority (DEWA) at $6.10 billion.