Cooperative societies in the United Arab Emirates are now allowed to list their shares on the local exchange, as part of a plan to develop the country’s capital markets.

The United Arab Emirates, whose seven sheikhdoms include Abu Dhabi and Dubai, said financial markets will establish separate trading platforms for cooperatives from the stock exchanges.

Abu Dhabi’s IPO market bounced back in 2021 following a four-year lull. The company has offered sweeteners such as flexibility on the minimum stake size required for share sales and a promise to reduce or waive listing fees.

Dubai announced in November that it plans to sell shares in 10 companies, and has encouraged private and family-owned businesses to do likewise. Dubai Electricity & Water Authority and the Salik road-toll collection system are among the utilities that will be sold by the sheikhdom.


Source: UAE Lets Cooperatives List Shares Locally in Boost to IPO Rally – Bloomberg