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Article: IPOs Drop in Middle East.
- Article from:
- Moj News Agency (Tehran, Iran)
- Article date:
- January 8, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The fall is withering investor confidence, but many companies are likely to push ahead with their plans in 2009 despite the global economic meltdown, said Ernst & Young. "Companies are preparing for IPOs because the long-term strategic rationale for such transactions has not changed," said Phil Gandier, a partner of transaction advisory services of Ernst & Young Middle East. Ernest & Young said IPO activity in the region plummeted in October and November with the total $ 22.4 million raised from the exercise paling in comparison to $ 6 billion raised from 10 IPOs during the same period in 2007. In the first three quarters of last year, money raised through 55 IPOs in the ...
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Article: Ernst & Young reports slump in Middle East ...
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