Road To IPO in UAE

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Introduction of UAE Stock Exchanges

Source: Zawya.com and BloombergNote: Timings based on historical evidence and publicly available information – data as of 1/11/2007

Key Listing Requirements Of ADSM, DFM

Key Listing Requirements Of ADSM, DFM

Additional Requirements for DFM Listing

Listing Requirements DIFX

Advantages of Listing

ADSM Snapshot

Source: esca.comNote: Timings based on historical evidence and publicly available information – May be subject to change at ESCA’s discretion. data as of 1/11/2007

DFM Snapshot

Source: esca.comNote: Timings based on historical evidence and publicly available information – May be subject to change at ESCA’s discretion. data as of 1/11/2007

Sectoral Snapshot of Listed Companies

Source: Zawya.comNote: Timings based on historical evidence– May be subject to change at Zawya’s discretion. data as of 1/11/2007

SWOT –UAE Stock Markets

SWOT –UAE Stock Markets

SWOT –DIFX Global Investment Market

SWOT –DIFX Global Investment Market

Primary Data Analysis

Source: Primary research conducted for the projectNote: Above information is based on the response based on the target audience and is done using convenient sampling

Primary Data Analysis

Source: Primary research conducted for the projectNote: Above information is based on the response based on the target audience and is done using convenient sampling

Primary Data Analysis

Source: Primary research conducted for the projectNote: Above information is based on the response based on the target audience and is done using convenient sampling

Past IPO Activity in UAE

Figure: Bubble size indicates oversubscription levelsSource: Zawya.com and BloombergNote: Timings based on historical evidence and publicly available information – May be subject to change

Secondary Analysis – Part 1

Secondary Analysis – Part 1

Model Prediction For First Day Listing Gain

Secondary Analysis – Part 2

Secondary Analysis– Part 2

Predicting Failure Of BHAR Model

Summary of Analysis

The Redistribution of Wealth

Wealth Transfer During a Traditional IPO Process

Shares Cash

Fees

Wealth Transfer During UAE IPO Process

Loan

Interest + Loan Repayment

IB Fees Subscribed Amount

Subscribed Amount + Interest

Oversubscribed Funds Returned

Subscription to IPO

Commercial Banks

Issuer

Investment Bank

Subscribers /Shareholders

Receiving Banks

Money Market(15- 30 Days)

Capital Raised

Interest Earned in money market

SWOT Analysis of IPOs in UAE

SWOT Analysis Continued

Our Recommendations

Our Recommendations

Thank You

Question And Answer

References Used