Dubai Financial Market IPO Listing Requirements & Cost

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AE · EMEA · Main Market

Dubai Financial Market

DFM PJSC · Dubai · AED

Dubai's privatisation-driven boom market — heavily oversubscribed retail books and fast timelines.

Eligibility · Meridian Renewables (example)

Conditional

1 requirement(s) not yet met — see eligibility below.

Min market cap

$55M

admission floor

Min free float

25%

public hands

Est. all-in

3.8%

on $700M

Time to list

14–18w

from kickoff

Regulator

SCA / DFSA

oversight

Eligibility check

✓

Market capitalisation

Requirement: ≥ $55M

$4.8B

Free float

Requirement: ≥ 25%

~15%

✓

Operating history

Requirement: ≥ 2 yrs

11 yrs

✓

Profit / revenue test

Requirement: Profit or market-cap test

Profitable

Governance standard

Requirement: SCA Governance

Gaps

✓

Accounting

Requirement: IFRS

IFRS

Rules as of 2026-Q2 · source: DFM Listing Rules (SCA (UAE), AE). Compiled summary — validate against the primary source before filing.

Fees & cost

Est. all-in · $700M raise$27M 3.8%

Underwriting spread3.0% · $21M

Initial listing feeAED 0.3M

Annual feeAED 0.2M

Legal · audit · IR · other$5.9M

Total all-in$27M (3.8%)

Market quality & investors

Liquidity★★★★☆

Analyst coverage★★★☆☆

Retail participation★★★★★

Institutional depth★★★★☆

Index inclusion

DFM General

Aftermarket: +30% avg first-day

Process & sectors

Typical time-to-list14–18w

RegulatorSCA / DFSA

Dual / secondary listingSupported

Min public shareholders250

Sector strength

RealEstateFinancialsUtilitiesConsumer

Notable listings: Salik, DEWA

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