{"id":108781,"date":"2025-10-24T00:00:00","date_gmt":"2025-10-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-pe-backed-ipos-could-start-trickling-in-in-the-gulf-deadline-for-content-creators-license-extended\/"},"modified":"2025-10-24T00:00:00","modified_gmt":"2025-10-24T00:00:00","slug":"this-morning-pe-backed-ipos-could-start-trickling-in-in-the-gulf-deadline-for-content-creators-license-extended","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/10\/24\/this-morning-pe-backed-ipos-could-start-trickling-in-in-the-gulf-deadline-for-content-creators-license-extended\/","title":{"rendered":"THIS MORNING: PE-backed IPOs could start trickling in in the Gulf + Deadline for content creators\u2019 license extended"},"content":{"rendered":"

Good morning, and happy FRIDAY. <\/strong>We close out the week with a packed issue, led by Abu Dhabi\u2019s most recent critical minerals push, as ADQ joins the US in investing some USD 600 mn in global critical minerals projects. Meanwhile, joining its peers in upgrading the UAE\u2019s GDP growth forecast this morning is Fitch Solutions\u2019 BMI, which now sees the country\u2019s GDP growing at 5% this year. <\/p>\n

ALSO- Emaar is investing AED 100 bn in its latest Emaar Hills project<\/strong>, which will feature an ultra-luxury community named Dubai Mansions. <\/p>\n

PLUS-<\/strong> Emirates NBD, du, and more are out out with its 3Q earnings<\/strong>; Mashreq<\/strong> facilitated a USD 1 bn syndicated loan for Energy Development Oman; and Property Finder<\/strong> invests in Stake<\/strong>. <\/p>\n

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WEATHER- Dubai <\/strong>will see a high of 35\u00b0C today, and an overnight low of 26\u00b0C, while the mercury in Abu Dhabi<\/strong> peaks at 36\u00b0C, with a low of 24\u00b0C. <\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- <\/strong>Banke<\/strong>rs are eyeing the Gulf as the next testing ground for private equity-backed <\/strong>listings<\/strong>, marking a shift that could reshape how buyout firms exit their regional investments, Bloomberg<\/a> reports. Barclays and Emirates NBD Capital say early discussions are already underway with private equity owners exploring exits through the UAE and Saudi markets, as IPO markets deepen beyond state-linked and family-run firms into sectors such as healthcare, retail and services, though limited liquidity and valuation discipline still pose a threat.<\/p>\n

What the pundits are saying:<\/strong> \u201cThere are now more discussions happening with a broader range of owners who see the region, especially the United Arab Emirates, as a viable listing destination [...]. While the number of private equity-owned businesses here is still smaller than in more mature markets, activity has clearly increased,\u201d said Nikita Turkin, head of Central and Eastern Europe, Middle East and Africa equity capital markets at Barclays. <\/p>\n

Yes, but: <\/strong>One anticipated IPO was recently delayed, underscoring challenges for PE investors. Dubizzle\u2019s IPO<\/a> was meant to allow Bain Capital and Kingsway Capital to offload their stakes, but was delayed earlier this week. IPOs here also usually offer smaller 20-30% stakes, which compared to private equity firms\u2019 controlling stakes of 50-57% limit how much they\u2019ll be able to lock in from the exit, Emirates NBD Capital\u2019s Hitesh Asarpota \u2014 who is less convinced a major wave of PE-backed IPOs is likely in the next 12-18 months \u2014 said. As a result, many funds are assessing alternative exit routes \u2014 such as accelerated book-builds \u2014 to unlock liquidity and reduce exposure. <\/p>\n

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<\/a> #2- Emirates NBD\u2019s<\/strong> play fo<\/strong>r RBL <\/strong>gets neutral<\/strong> verdict from Fitch: <\/strong>Emirates NBD\u2019s planned acquisition of India\u2019s RBL won\u2019t affect the Dubai lender\u2019s credit rating, according to a Fitch Ratings commentary<\/a>. The agency said ENBD\u2019s A+ long term issuer default rating remains supported by its \u201csystemic importance\u201d and close state ties, and added that it would retain its bbb- capitalization and leverage score even after the acquisition wraps, based off of the bank\u2019s 1H 2025 financials. <\/p>\n

REFRESHER-<\/strong> Earlier this week, ENBD agreed to acquire between 51-74% of<\/a>Mumbai-listed RBL Bank<\/a> through a USD 3 bn preferential share issuance. The Reserve Bank of India indicated it may greenlight the acquisition, which requires overriding the current cap on foreign ownership.<\/p>\n

Its operating environment score of bbb will likewise not be impacted negatively<\/strong>, given the limited exposure to India, representing only 6% of the bank\u2019s assets, and the Indian banking sector\u2019s already solid score of bb+. The bank\u2019s exposure to Turkey means it already carries a lower rating compared to its UAE peers, which mostly carry a bbb+ rating. <\/p>\n

Higher offshore exposure: <\/strong>The RBL purchase, which marks the largest foreign investment in India\u2019s financial sector and its biggest-ever bank equity raise, would raise ENBD\u2019s overseas exposure to around 30% of its total assets, up from 25% now. <\/p>\n

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#3- <\/strong>Habibi, invest in Andhra Pradesh: <\/strong>N. Chandrababu Naidu, chief minister of the southern Indian state of Andhra Pradesh, invited investments from UAE-based companies including Sharaf Group<\/a>, Transworld Group<\/a>, Burjeel Holdings<\/a>, and Sobha Group<\/a> during his visit to Dubai, The Times of India<\/a> reports. The highlights of the visit:<\/p>\n