Winners of the annual Emirates Labour Market Award spoke about how they plan to use the money to build their dream houses, start businesses
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UAE residents and investors can buy shares of a number of government and semi-government entities that have been listed on local bourses.
In the coming months, more public sector companies’ shares will be sold to residents and investors.
Since government entities enjoy sovereign backing, retail investors tend to have more trust and confidence in such companies.
Dubai government announced that it will launch initial public offerings (IPOs) of 10 entities and list them on the Dubai Financial Market to improve liquidity. Meanwhile, 13 entities – both public and private – are expected to list their shares on the Abu Dhabi bourse.
Below is the list of government-backed entities which UAE residents and investors can buy shares of now and in the near future:
Dewa was Dubai's first entity to sell its shares this year. UAE residents can buy Dewa shares through Dubai Financial Market. The utility services provider had set the final offer price of Dh2.48 per share during its IPO.
A member of the Dubai Holding Group, the company offered 625 million shares for sale as part of its global offering. It set a final share price at the top of the range at Dh2.67.
Tecom is the second of 10 proposed privatisations in Dubai as part of the city’s plans to bolster its capital markets.
The road toll operator will sell 1.5 billion shares or 20 per cent of the stake through the initial public offering (IPO). Subscriptions will open on September 13 and end on September 20 for retail investors and on September 21 for qualified investors.
The company announced on Monday that it is likely to list on the Dubai Financial Market (DFM) around September 29.
As a public joint stock company, Salik’s existing toll gates in Dubai can be removed or modified and new toll gates can also be added after the approval of authorities.
A subsidiary of Abu Dhabi National Oil Company, Adnoc had raised $1.1 billion (Dh4 billion) through its IPO last year. Its shares opened at Dh3.71 on debut.
Also an Adnoc-backed petrochemical firm, the company set the price of its IPO at Dh2.45 per share. It had raised more than $2 billion through the IPO. Residents can buy shares of the Abu Dhabi-headquartered company through Abu Dhabi Securities Exchange.
Another Adnoc-backed company, Fertiglobe had listed its shares on the Abu Dhabi bourse. Its shares were priced at Dh2.55 in the IPO.
The company made a debut on the Abu Dhabi Securities Exchange following a Dh4 billion capital raise from a primary issuance. Its stock had opened at Dh3.5 per share on the first trading trade.
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