Gokul Mani, Managing Director and Head of Ceemea (Central and Eastern Europe, Middle East and Africa), Equity Capital Markets at JP Morgan, has affirmed that the successful initial public offerings (IPOs) in the Dubai Financial Market and other GCC markets will contribute to attracting more international investors to the region.
In media statements on the sidelines of the Capital Market Summit 2024, organised by the Dubai Financial Market, he said that IPOs in this region have witnessed exceptional performance, with many companies that went public in 2021, 2022, and 2023 trading at prices significantly higher than their IPO price, some with increases exceeding 40%, 50%, or even 60%. Consequently, this performance has contributed to further growth and attracted more international investors to the region.
Mani emphasised that they are witnessing growing interest from foreign investors seeking to capitalise on opportunities in the region.
He added that J.P. Morgan has witnessed a lot of activity in the infrastructure, hydrocarbons, and utilities sectors, and can expect a wider range of sectors to be represented in IPOs, which will naturally attract more investor interest.
Regarding the diversification of listings and the expansion of technology company listings in the coming period, he noted that the UAE is a pioneer in this area, citing the listing of Presight AI and Bayanat on ADX last year, while a wider base of companies operating in fintech and technology-enabled sectors are likely to follow suit.
Source: WAM
