The Kingdom is leading the IPO activity in the region with 220.6 million dollars

MENA Middle East and North Africa (MENA) recorded IPOs totaling US $ 349.9 million in the third quarter of 2018, with sales up 21.9% over the same period last year. in the third quarter of 2017, the number decreased by 33.3%.

"It is positive that IPOs are increasing on an annual basis, as several institutions in the Middle East and North Africa (MENA) region are pushing back their public offering plans in 2018 due to some factors, "said Phil Gander, head of transaction advisory services at Ernst & Young, Middle East and North Africa. Given regulatory concerns, global trade developments, uncertain market conditions in a high interest rate environment, volatile oil prices and unfavorable economic conditions, IPOs in the Middle East East and North Africa were slow from the first quarter to the end of the quarter. The third of the year 2018.

According to the report, Saudi Arabia conducted the IPO activity in the Middle East and North Africa in the third quarter, with the entry of Gamam Sports Company into the market Saudi bursary, which raised $ 220.6 million, making it the largest IPO in the third quarter. In addition, the GCC region experienced another investment, particularly in the electricity and utilities sector: the Muscat securities market registered Dhofar Electricity Company on an IPO that raised $ 52 million. The Connected Context, said Ernst & Young's Chief Information Officer in the Middle East and North Africa, Gregory Hughes "Despite the poor performance of the IPO market this year, developments in Regulatory and global indices have had a positive impact on the IPO market in the GCC countries, with the FTSE Russell (Tadawul) as a secondary indicator in emerging markets in 2019, which is very encouraging for investors. the Kingdom following the news of September 2018. MSCI has signed an agreement with Tadawul for the launch of a benchmark.For transactions in the last quarter of 2018, aims to As a platform for investment tools, and covers exchange-traded funds. "

Your browser does not support the video tag.