According to a Gulf News report, the Dubai authorities are considering imposing a ban on the vast majority of initial public offerings (IPOs) until the new Companies Law is put in place later this year.
The proposed move is designed to protect the region's investors, following warnings from experts that the 'herd mentality' and short-term focus of inexperienced investors may lead them to face heavy losses.
Local media reports have suggested that the Ministry of Economy and Planning will make an announcement on the matter in the next few days.
However, speaking to Gulf News, an unnamed Dubai-based banker was sceptical, observing that:
"This has been in the air for the past three months, but I personally do not expect them to take such a decision. If it does happen, it will certainly have a negative effect on the IPO market."
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