UAE firms must follow strict confidentiality policies ahead of IPO offerings

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Friday, June 10th, 2022 8:32am

By ARN News Staff

Companies should manage employees and communications during early conversations regarding initial public offering (IPO) and all discussions should be kept confidential. 

That’s according to Luke Tapp from Pinsent Masons law firm who clarified the rules following the announcement that TECOM Group PJSC (TECOM) will float 12.5 per cent of its share capital on the Dubai Financial Market through an IPO. 

At the point that any company is listed, there are very strict regulations, which organisations need to have policies for and employees should be aware of.

Tapp also stressed the importance of being cautious on social media whenever an organisation is going through an IPO.

Discussing confidential information about your company with family and friends, or to a third party is a breach of UAE labour law.

However, if the information is already public then it comes down to the company policy.