MENA IPOs halve in Q2 2001.

By bne IntelliNews August 29, 2011
The value of initial public offerings (IPOs) in the MENA region dropped by 51.67% on the year to USD 374.8mn in the second quarter of 2011, Trade Arabia informed citing a report by Ernst & Young. Despite the annual decrease, the figure is much higher than the first-quarter value of USD 24.14mn. In the first half of 2011, public offerings raised USD 398.9mn, compared to USD 1.2bn a year ago. The Abu Dhabi Stock Exchange was the only one in the region to report more than one IPO - Eshraq Properties Company raised $229.09mn and National Takaful Company (Watania) raised $23.58mn. Some 225 companies from the region delayed their IPO plans in the last three years.

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