Arab Today, arab today uae ipo market most active in gulf
Last Updated : GMT 18:23:12
Arab Today, arab today
Arab Today, arab today

UAE IPO market most active in Gulf

Arab Today, arab today

Arab Today, arab today UAE IPO market most active in Gulf

Dubai - Arabstoday

UAE bourses remain the most active in terms of IPO activity in the GCC, accounting for 74 per cent of the total capital raised in the first half of 2011, according to PriceWaterhouse Cooper. This activity comes against a backdrop of uncertain IPO markets in the GCC. Capital markets have remained mostly subdued as a result of political unrest in the Arab world and reports of further delays and postponements of IPOs. The first half of 2011 saw poor performance in IPO offerings, with the number reduced by 50 per cent, from 8 to 4. Deal values also dropped by 57 per cent, from $830 million (Dh3.04 billion) to $358 million, according to PriceWaterhouse Cooper (PwC). This drop reflects continued investor caution amid economic uncertainties. \"Across the GCC we\'ve seen low volumes of trading which affect the listing of IPOs. The delays were mainly because of the situation in the stock market. We will have to get more companies under one sector in the market to attract more liquidity,\" Mousa Haddad, head of MENA equity at the National Bank of Abu Dhabi, told Gulf News. Article continues below Last year, IPO activity in the GCC was dominated by Saudi Arabia\'s Tadawul. This year Saudi Integrated Telecom Company floated the only IPO on the Tadawul, raising $93 million in May. This performance contrasts sharply with the seven IPOs in the first half of 2010 which raised $685 million. \"Although the Saudi market has been uncharacteristically quiet in terms of IPOs in the first half of 2011, from what we are seeing we anticipate a number of flotations coming to the Tadawul in the second half. However, with the arrival of the fasting month of Ramadan and the summer holiday period, late September or early October is likely to be the earliest we see the next Saudi IPO,\" said Steve Drake, head of PwC Capital Markets Middle East. This year, UAE-based real estate company Eshraq Properties Company raised $225 million on the Abu Dhabi Stock Exchange and accounted for 63 per cent of the total amount raised in the GCC. The two other IPOs in the UAE during the first half included the $18 million issue by Insurance House and a $22 million issue by Wataniya. Confidence booster \"The three IPOs in the UAE during the first half have brought a much-awaited end to the drought of IPOs on the UAE exchanges. Most notably, the IPO by Eshraq Properties, a company in the recession-hit real estate sector, is a major confidence booster for both investors as well as other companies planning IPOs in the near future. We have also seen continued interest in equity offerings by regional companies looking to list on international markets where there are perceived valuation benefits in certain sectors such as oil and gas. We believe that there is pent-up demand for IPO capital in the market, however realistic pricing and a strong growth story are crucial to draw investor interest and market demand,\" said Drake of PwC Capital Markets Middle East. However, despite the UAE\'s high activity in contrast to the rest of the GCC, other analysts believe it may be a while before the UAE market picks up again. \"The UAE has been a bear market for years and is going to continue for the time being. There have only been small swings up and down and nothing significant. Nobody makes money and the trading volumes are becoming lower and lower,\" said Haddad. \"The UAE stock exchange is looking to encourage private companies to be listed. There is a plan for this and it will have a positive impact on the market but it will take a long time before the effects are evident,\" he added.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae ipo market most active in gulf Arab Today, arab today uae ipo market most active in gulf

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 20:48 2017 Wednesday ,22 February

Dividend announcements drive Muscat bourse

GMT 16:56 2017 Wednesday ,22 February

Global gold prices drop

GMT 16:01 2017 Wednesday ,22 February

Tadawul edges down 0.2%

GMT 13:22 2017 Wednesday ,22 February

Canadian stock market closes at record high

GMT 11:50 2017 Wednesday ,22 February

Most Asia markets up as Hong Kong rebounds

GMT 20:52 2017 Tuesday ,21 February

Asia stocks consolidate recent gains; China shines

GMT 10:37 2017 Tuesday ,21 February

Most Asia markets up as rally presses ahead
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday