UAE cable maker Ducab may consider IPO to support future expansion

There has been an IPO boom in the Middle East, with a number of companies listing their shares on the regional stock markets such as the Abu Dhabi Securities Exchange, the Dubai Financial Market and Saudi Arabia’s Tadawul as economies recover from the coronavirus-induced slowdown on the back of higher oil prices and government reforms.

Ducab intends to focus on boosting its exports in international markets, to tap into the expanding global wires and cables market, Mr Al Mutawa said.The size of the market was estimated at $202.05 billion in 2022 and is expected to expand by 4.2 per cent annually between 2023 and 2030 due to rising urbanisation and growing infrastructure worldwide, according to the Grand View Research report.

The company aims to increase exports to other countries in Asia, North Africa and Europe.“Overall, global demand, when it comes to cable is always there. There are opportunities and pockets all over the world because of new infrastructure projects and other developments,