Happy Sunday Everyone!

The Gulf’s financial markets are making big moves. Dubai is set to revamp its hedge fund regulations, aiming to attract more global players with lower capital requirements and streamlined approvals. Meanwhile, Saudi Arabia’s IPO market is heating up, with five more companies getting the green light to go public, adding to a record-breaking year. In Dubai, DEWA has approved an AED 3.1 billion dividend payout, reinforcing investor confidence.

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Dubai Eyes Major Regulatory Overhaul to Attract Hedge Funds

📰 What is it about?

• Dubai is considering major regulatory changes to enhance its appeal as a global hub for hedge funds, as per Bloomberg.

• The Dubai Financial Services Authority (DFSA) is reviewing existing rules to ease regulatory burdens and lower entry barriers for money managers.

• Proposed changes include reducing capital requirements, cutting emergency cash obligations, and eliminating DFSA approval for key hires.

• The reforms would align Dubai’s financial hub with European and UK regulatory standards.

💡 Why it matters?

• The changes could mark the most significant regulatory shift in nearly two decades.

• Dubai has seen a surge in hedge funds, with over 70 firms managing at least $1 billion in assets each.

• The reforms aim to attract more fund managers, particularly startups, to the Dubai International Financial Centre (DIFC).

• Lower capital requirements and reduced regulatory red tape could accelerate the city’s growth as a financial powerhouse.

🔜 What’s next?

• The DFSA is conducting consultations with industry players before implementing the changes, expected sometime next year.

• A newly retrofitted building in DIFC, designed to accommodate hedge fund growth, is set to open by the end of April.

• The final regulatory framework will likely introduce activity-based capital requirements for firms, ensuring compliance with global financial standards.

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Markets

Saudi Regulator Approves Five More IPOs Amid Market Boom

📰 What is it about?

• Saudi Arabia’s Capital Markets Authority (CMA) has approved five new initial public offerings (IPOs).

• This follows a strong IPO start in 2024, with three companies—Derayah Financial, Umm Al Qura, and Entaj—raising over $1 billion.

• In 2024, Saudi companies raised a total of $4 billion in IPOs.

• The latest approvals include real estate, education, signage, and fitness companies set to list on the Saudi Exchange’s main and parallel markets.

💡 Why it matters?

• Saudi Arabia’s IPO market is experiencing significant momentum, attracting both local and international investors.

• The newly approved listings align with the CMA’s broader efforts to diversify the economy and boost public market participation.

• Real estate continues to be a major driver, with 20% of companies under IPO review belonging to the sector.

• Strong IPO performance, with shares of Derayah Financial and Entaj surging 30% on debut, signals high investor appetite.

🔜 What’s next?

• Each company will release a prospectus ahead of the subscription period, with IPO approvals valid for six months.

• Umm Al Qura’s shares will begin trading on Monday, following a $523 million IPO.

• More IPO approvals are expected as the CMA reviews 55 companies, further fueling Saudi Arabia’s capital market growth.

DEWA Approves AED 3.1 Billion Dividend for H2 2024

What is happening?

• Dubai Electricity and Water Authority (DEWA) has approved an AED 3.1 billion dividend payout for the second half of 2024.

• The record date is March 31, 2025, with a Last Entitlement Date of March 27, 2025 for shareholders.

• Based on the IPO share price of AED 2.48 per share, the next twelve-month dividend yield stands at 5.0%.

Why it matters:

• DEWA remains a key driver of Dubai’s infrastructure growth, ensuring stable energy and water supply amid the city's rapid expansion.

• The company continues to demonstrate strong financial performance, with 2024 full-year revenue of AED 30.98 billion, EBITDA of AED 15.73 billion, and net profit of AED 7.23 billion.

• The 6.17% annual revenue growth highlights increasing demand for electricity, water, and cooling services.

What’s next?

• Shareholders must be invested before the March 27, 2025 cutoff to qualify for the dividend payout.

• DEWA remains committed to sustainable growth, innovation, and financial excellence, leveraging smart solutions and cutting-edge technologies.

• With continued investment in infrastructure, DEWA aims to maintain its market leadership and value creation for investors.

🔍In other news…

• Dubai Holding is a buyer of UK’s Nord Anglia schools.

• Gold exports to UAE surge on Trump tariff war.

• Etihad IPO not the end goal but a natural progression, says airline CEO

The Latest from the Smashi Business Studio

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Here’s to a productive week ahead! 💪

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