Question 1

What capital-markets transactions do you advise on?

Accepted Answer

We act on the full spectrum of UAE capital-markets work: IPOs on the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX); dual listings (Tadawul, LSE, LSE-IFM); secondary offerings, rights issues and accelerated bookbuilds; sovereign and corporate bond issuances; sukuk issuances (across Ijarah, Wakala and hybrid structures); securitisations; derivative securities including total return swaps and equity-linked notes; private placements; and depositary receipts. We act for issuers, selling shareholders, underwriters and trustees.

Question 2

How long does a UAE IPO take?

Accepted Answer

From initial mandate to listing, a UAE IPO typically takes 6 to 12 months. The pre-IPO restructuring phase (corporate reorganisation, free-zone or DIFC reflag, audit cleanup) often takes longer than the documentation phase. The SCA review of the prospectus and listing application typically takes 30 to 60 working days from a complete submission. We compress the timetable through close coordination with the SCA, the listing exchange and the issuer's auditors and bookrunners — and through running multiple workstreams in parallel rather than sequentially.

Question 3

What is the SCA's role in a UAE issuance?

Accepted Answer

The Securities and Commodities Authority (SCA) is the federal regulator of UAE capital markets. The SCA approves prospectuses for public offerings, regulates listed issuers, supervises the DFM and ADX exchanges, and enforces market-conduct rules. For an IPO, the SCA's approval is the critical-path regulatory gate. The SCA also regulates investment management, fund distribution, virtual-asset offerings and the conduct of financial intermediaries. We engage with the SCA from the structuring stage to compress timelines and resolve novel issues before formal submission.

Question 4

Can a UAE company list on multiple exchanges?

Accepted Answer

Yes. Dual listings — UAE-onshore plus an international exchange (typically the LSE or Saudi's Tadawul) — are increasingly common for regional issuers seeking access to broader investor pools. We advise on the structuring choices that affect dual-listing eligibility (jurisdiction of incorporation, share class structure, free float requirements) and on the documentation harmonisation between the two listing prospectuses. The most consequential decisions are made early — at the corporate-restructuring phase, before the pre-IPO roadshow.

Question 5

Do you advise on sukuk issuances?

Accepted Answer

Yes — across the full structure menu. We have advised on Ijarah-based sukuk for sovereign and corporate issuers, Wakala-based sukuk for financial institutions, Mudaraba-based sukuk for project financings, and hybrid sukuk structures combining multiple Sharia-compliant contracts. We work directly with leading regional and international Sharia Supervisory Boards, and with the leading bookrunners and trustees. We have advised on issuances ranging from regional debut deals to multi-billion-dollar sovereign-linked benchmark transactions.

Question 6

How is securitisation structured under UAE law?

Accepted Answer

UAE securitisations typically use a special-purpose vehicle (SPV) — most often DIFC, ADGM or Cayman-domiciled — that purchases the receivables pool and issues notes to investors. The true-sale, bankruptcy-remoteness and servicing arrangements are documented to satisfy rating-agency and investor requirements. UAE-onshore receivables can be transferred through assignment perfected on the Emirates Movable Collateral Registry. We have advised on securitisations of credit-card receivables, auto loans, equipment lease receivables, trade finance receivables and real-estate income streams.

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