(MENAFN) Over the past three years, companies in Dubai have generated Dh34.5 billion (USD9.4 billion) by issuing shares on the Dubai stock exchange, driven by significant investor enthusiasm.
The total investor interest in these listings surpassed Dh1 trillion, as reported by the Dubai Securities and Exchange Higher Committee.
This sustained level of initial public offering (IPO) activity has contributed to the Dubai Financial Market's strong growth trajectory, propelling its general index to rank as the fifth-best performing globally last year. This information was conveyed during a briefing by the committee, as announced by the Dubai Media Office on Wednesday.
During the meeting, the committee briefed Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance, and First Deputy Ruler of Dubai, on the remarkable performance of the DFM General Index last year. The index achieved "exceptional performance," surpassing the 4,000-point threshold for the first time in eight years.
“The accomplishments of the Securities and Exchange Higher Committee in advancing capital markets have played a crucial role in fostering growth and consolidating Dubai’s leading position on the global financial stage, aligning with our comprehensive vision for the emirate,” Sheikh Maktoum, who serves as the chairman of the higher committee, stated.
The record performance of the emirate's bourse was fueled by a notable surge in trading activities, an increase in capital inflows, and a growing influx of investors. Last year, the Dubai Financial Market (DFM) outperformed major global markets and attracted 230,000 new investors since 2022. This surge in investor interest contributed to the improvement of the market's capitalization to Dh688 billion by the end of last year, a significant increase from the Dh582 billion recorded a year earlier, as stated by the media office.
Furthermore, the DFM, along with its counterparts in the Gulf Cooperation Council (GCC) member states, has demonstrated strong performance over the past two years. This success can be attributed to the sustained economic momentum within the emirate's economy and a flurry of public listings by both private and state-owned companies.
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