MENA region sees four IPOs in Q1 2012. - E&Y.

By bne IntelliNews May 8, 2012
According to Ernst & Youngs 2012 Q1 MENA IPO report, four initial public offerings were launched in the MENA region in the first three months of 2012, the same as in the previous quarter, Saudi Gazette reported. Saudi Arabia had the two largest offerings with Saudi Takween Advanced Industries raising USD 62.38mn and Tokio Marine Saudi Arabia generating USD 16mn. The IPO of Afric Industries SA in Morocco was worth USD 3.11mn, while Tunisias Hexabyte raised USD 1.31mn. The report also said that during the first quarter regional capital markets raised USD 82.8mn, marking a significant 3.8-fold increase over the year.

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