Middle East's IPOs down 9% y/y in H1.

By bne IntelliNews September 28, 2010
According to a report by Ernst and Young, initial public offerings (IPO) in the Middle East dropped by 9% y/y to USD 1bn in H1 of the year. The 11 small-sized IPOs were dominated by Saudi insurance companies during the period while the largest IPO was Saudi-based Knowledge Economic City Company, which raised USD 272mn or 46% of the regional total. The report cited over 100 IPOs announced for H2, but said only a few are likely to take place in the remaining two months of the year. In Q2 alone, the total capital raised for regional IPOs surged by 40% y/y to stand at USD 590.6mn, Ernst and Young figures showed.

Read in IntelliNews Pro
Get IntelliNews Pro

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

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    5 days ago
  2. Saudi Arabia to scale back plans for Neom city
    8 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    5 days ago
  4. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    6 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    19 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    23 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    28 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    21 days ago

Reports

Dismiss