Nobody has gone public in Dubai since 2009. But, as they say, past experience doesn’t indicate future performance. Right now, more than 20 companies in Dubai say they would go public if the market improves. For Borse Dubai, the country’s stock exchange, this would provide ‘a better representation of Dubai’s economy on the bourses’, as it is currently ‘skewed toward financials and property.’
In the first quarter of this year, the value of Middle East IPOs plummeted 95 per cent, reaching their lowest levels in half a decade.
And, this could all change quickly. A turn in the market could lead to a flood of IPO activity following a drought of more than two years.