Ernst & Young: Middle East raises USD 420.5mn from IPOs in Q1.

By bne IntelliNews May 10, 2010
According to a report by Ernst & Young's Middle East, the initial public offering (IPO) activity in the Middle East rose fivefold to reach USD 420.5mn in the funds raised in Q1 of the year from six IPO operations. The increase was mainly due to the strong performance of the Saudi and Qatari markets in particular where five IPOs in Saudi Arabia and one in Qatar took place, the report added. The region's largest IPO was made by Mazaya Qatar Real Estate Development with USD 144.2mn, followed by Saudi Arabia 's Herfy Food Services (USD 110.2mn) and Alsorayai Trading Industrial Group (USD 64.8mn). The Middle East raised USD 91.6mn from IPOs in Q4 last year.  

Related Articles

Bahrain Middle East Bank fully repays USD 13mn debt.

Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more

National Bank of Abu Dhabi launches USD 17mn Uridashi bond, MENAs first ever.

National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more

GCC economies resilient to MENA turmoil but constrains persist S&P.

The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss