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AE · EMEA · Main
Abu Dhabi Securities Exchange
ADX · Abu Dhabi · AED
Fast-growing Gulf venue; sovereign-anchored books and standout retail appetite.
Eligibility · Meridian Renewables (example)
Eligible
Meets listing standards; 1 governance action(s) to close before filing.
Min market cap
$25M
admission floor
Min free float
15%
public hands
Est. all-in
4.8%
on $700M
Time to list
18–22w
from kickoff
Regulator
SCA
oversight
Eligibility check
✓
Market capitalisation
Requirement: ≥ $25M
$4.8B
✓
Free float
Requirement: ≥ 15%
~15%
✓
Operating history
Requirement: ≥ 2 yrs
11 yrs
✓
Profit / revenue test
Requirement: Profit / track record
Profitable
!
Governance standard
Requirement: SCA Governance
Gaps
✓
Accounting
Requirement: IFRS
IFRS
Rules as of 2026-Q2 · source: ADX Listing Rules (SCA (UAE), AE). Compiled summary — validate against the primary source before filing.
Fees & cost
Est. all-in · $700M raise$34M 4.8%
Underwriting spread3.8% · $27M
Initial listing feeAED 0.4M
Annual feeAED 0.2M
Legal · audit · IR · other$7.0M
Total all-in$34M (4.8%)
Market quality & investors
Liquidity★★★★☆
Analyst coverage★★★☆☆
Retail participation★★★★★
Institutional depth★★★★☆
Index inclusion
FADGI
Aftermarket: +25% avg first-day
Process & sectors
Typical time-to-list18–22w
RegulatorSCA
Dual / secondary listingSupported
Min public shareholders—
Sector strength
EnergyUtilitiesFinancialsRealEstate
Notable listings: ADNOC Gas, Pure Health
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Abu Dhabi Securities Exchange IPO Listing Requirements & Cost · IPOQB