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Article: Fresh appetite for Gulf IPOs seen after Ramadan.(initial public offerings)
- Article from:
- Saudi Economic Survey
- Article date:
- September 10, 2009
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The market for initial public offerings (IPO) in the Gulf looks set to reopen as stock markets and the oil price recover, and bankers expect a few companies to test the waters when Ramadan ends.
Investors look increasingly willing to support companies thirsting for cash after a protracted drought hit the market in the region -- though multi-billion dollar share sales are unlikely to happen anytime before next year. "Institutional investors are starting to again take more interest in the region as valuations ... relative to other emerging markets, look more enticing," said Michael Bevan, HSBC's head of equity capital markets in the Middle East and North Africa. ...