Al Ansari Financial Services, the UAE money and exchange company, listed on
DFM in March. The family-owned company – the UAE’s largest exchange house
chain – raised $210 million for 10 percent of the company.
ADNOC L&S raised $769 million in an initial public offering for 19
percent of the business, listing on ADX in May. The company exports crude
oil, refined products, dry bulk and liquefied natural gas from Abu Dhabi. It
was created in 2016 following a merger between Abu Dhabi National Tanker Co,
Petroleum Services Co and Abu Dhabi Petroleum Ports Operating Co.
ADNOC sold five percent of its gas business and more than three million
shares in March, when it listed on ADX. It raised $2.5 billion, in the
world’s biggest IPO so far in 2023. The IPO was oversubscribed 58 times,
with its first closing day share price trading 19% higher than its listing
price of AED2.37.
PureHealth raised almost $1 billion in an initial public offering (IPO) on ADX for 10 percent of the business in December.
PureHealth played a key role in screening for COVID-19 infections in the UAE and is the UAE’s largest healthcare provider.
PureHealth is owned by Abu Dhabi sovereign wealth fund ADQ and one of the capital’s biggest conglomerates, IHC, both of which are chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the national security adviser and a brother of UAE President Sheikh Mohammed bin Zayed.
Presight AI, a G42 company focused on data analytics and artificial intelligence, raised $496 million) from an IPO on ADX in March. It was the second IPO from G42’s portfolio, and was oversubscribed 136 times.