News

Abu Dhabi launches IPO fund

IPOThe Abu Dhabi government has launched a $1.4 billion IPO fund designed to increase the number of listings on the Abu Dhabi Securities Exchange (ADX) and attract more international investors. The fund launch was announced by the Supreme Council for Financial and Economic Affairs as part of a plan to develop the ADX as a leading international exchange, according to the state’s media office. It will invest in five to ten private companies per year with an emphasis on small and medium enterprises and will target a ticket size equivalent to between 10% and 40% of the float. The ADX has seen an increase in the number of listings so far this year while the Abu Dhabi stock index .ADI is up by 54% so far this year. The surge in IPOs has been largely driven by higher oil prices and the state-owned Abu Dhabi National Oil Co (Adnoc) has listed several of the companies it owns, as has the Abu Dhabi sovereign wealth fund Mubadala. However, Abu Dhabi still trails Saudi Arabia in terms of the size of its IPOs. This month saw the debut of renewable energy company Acwa Power International which raised $1.2 billion in the first few days of the listing, making it the biggest IPO since state-owned oil company Aramco raised $29 billion from its December 2019 share offering. ©2021 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

Roundtables

Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.