Abu Dhabi keen on IPOs to deepen local stock market: At least eight “sizable” companies are expected to list on the Abu Dhabi stock exchange this year, according to Bloomberg. The firms are from a range of sectors including tech, media, pharma and asset management, Sameh Al Qubaisi, the director-general of economic affairs at the Abu Dhabi Economic Development Department, told the news outlet.

The Emirate just closed the world’s biggest IPO so far this year: Last month saw Adnoc Gas raise USD 2.5 bn from its IPO which attracted sizable investor demand. This is almost half the amount raised by the five companies that went public in Abu Dhabi last year.

Abu Dhabi-based AI company G42 is considering at least six more IPOs, including G42 Healthcare Presight, Bloomberg said. The company raised USD 171 mn by listing its Bayanat AI arm in October.

	EGX30	16,804	-0.1% (YTD: +15.1%)
	USD (CBE)	Buy 30.73	Sell 30.84
	USD at CIB	Buy 30.73	Sell 30.83
	Interest rates CBE	16.25% deposit	17.25% lending
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THE CLOSING BELL-

The EGX30 fell 0.1% at yesterday’s close on turnover of EGP 1.9 bn (6.5% below the 90-day average). Local investors were net buyers. The index is up 15.1% YTD.

In the green: Elsewedy Electric (+2.4%), Juhayna (+1.5%) and Heliopolis Housing and Development (+1.2%).

In the red: Telecom Egypt (-3.7%), Egypt-Kuwait Holding (-2.5%) and Mopco (-2.2%).