Article: E&Y: activity declines in Middle East IPO market in Q3 2009.

Byline: news@cpifinancial.net (Staff Writer)

A total of four companies listed in the Middle East in Q3 2009 raised $871.79 million in Q3 2009 compared to five IPOs raising $1.021 billion in the previous quarter and 14 IPOs raising $3.74 billion during the Q3 '08. A total of US$1.97 billion has been raised in Middle East IPOs in the first three quarters of 2009 compared to $12.44 billion in same period last year.

Three IPOs in Saudi Arabia and one in Syria raised a total of $871.79 million in Q3 '09. National Petrochemical Company of Saudi Arabia was the largest regional IPO in Q3 2009, raising $640.85 million followed by the Saudi Steel Pipe Co. with ...

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