Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Five IPOs in MENA raise $1.3bn in Q1  Join our daily free Newsletter

MENAFN - Arab News - 15/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) According to ey's mena ipo update five ipos (initial public offerings) from mena raised 1. 3 billion in q1 2014 a decrease of 21 percent in terms of value compared to q1 2013. the mena ipo market in q1 saw no change in terms of volume compared to q1 2013

Phil gandier mena head of transaction advisory services ey says: 'the mena ipo market is off to a slower start in the first quarter compared to the same period last year however compared to ipo performance over the past few years q1 2014 has been one of the best performing quarters. the recently announced emirates reit and marka ipos will spur further ipo activity and point the way to high levels of activity through the first half of 2014.

Two ipos were in tunisia and one each from qatar saudi arabia and the uae. the largest ipo in q1 2014 was in qatar with mesaieed petrochemical holding company raising 905 million which was the first ipo on the qatari stock exchange since 2010. the company which is a qatar petroleum subsidiary was five times oversubscribed. the second largest ipo was gulf marine services from the uae which listed on the london stock exchange (lse) raising 275 million.

The remaining ipos raised less than 100 million each with saudi marketing company raising 72 million on the tadawul stock exchange in saudi followed by sotipapier in tunisia raising 26 million and cellcom in tunisia raising 6 million

'the combination of attractive valuations and solid after-market performance means that financial sponsors are actively pushing companies to list. the companies expected to list in the region range from subsidiaries of family businesses to large established companies. sectors that are likely to show strong ipo appetite are those with strong demographics such as retail consumer products and healthcare" said phil

The oil and gas sector led with two ipos in q1 followed by telecommunications industrial manufacturing and retail sectors with one ipo each

'we expect that q2 2014 and the second half of 2014 will see strong ipo activity. the ongoing transformation of family groups into institutional entities led by the younger generation that are more competitive and not susceptible to family succession disruptions will drive ipo activity. with sound economic fundamentals and strong regional liquidity fuelling new listings the mena pipeline is looking extremely healthy" concluded phil.


 


Arab News




  MENA News Headlines
 Jun 3 2015 - Palestinian Farmer Injured By Israeli Army Fire in GazaQatar News Agency
(MENAFN - QNA) Israeli soldiers opened fire, on Wednesday morning, on a number of Palestinian farmers in their own lands, east of Khuza’a town, east of the southern Gaza Strip city of Khan ...

 Jun 3 2015 - Ashrawi Calls for Just Solution to Palestine Refugees PlightQatar News Agency
(MENAFN - QNA) PLO executive committee member Hanan Ashrawi affirmed the necessity that the Palestinian people should exercise their inalienable rights , including a just solution to the plight of ...

 Jun 3 2015 - Cabinet appoints Jabbour TRC president, Jawarneh as envoy to UzbekistanJordan News Agency
(MENAFN - Jordan News Agency) A cabinet session chaired by Prime Minister Abdullah Ensour, Wednesday decided to appoint Ghazi Jabbour as president of the Telecommunications Regulatory Commission ...

 Jun 3 2015 - Armed Forces General Command starts implementation of recruitment programJordan News Agency
(MENAFN - Jordan News Agency) The General Command of the Jordan Armed Forces-Arab Army started the implementation of His Majesty King Abdullah II's directives on Fursan Al Mustaqbal (Knighs of the ...

 Jun 3 2015 - 136 Syrian refugees cross into KingdomJordan News Agency
(MENAFN - Jordan News Agency) Jordan Armed Forces' border guards received 136 Syrian refugees in the last 72 hours, a source at the General Command of the Armed Forces reported on Wednesday.The new ...

 Jun 3 2015 - Gov't Spokesperson to hold press conference todayJordan News Agency
(MENAFN - Jordan News Agency) Minister of State for Media Affairs and Government Spokesperson, Mohammad Momani, will hold a press conference today at 4 pm at the Prime Ministry. ...

 Jun 3 2015 - Dana Gas, BP sign participation agreementDaily News Egypt
(MENAFN - Daily News Egypt) Dana Gas and British Petroleum (BP) signed a participation agreement, where BP will conduct the drilling of a first exploration well in the El-Matariya onshore Concession ...

 Jun 3 2015 - 1m tonne increase in Egyptian wheat production: Grain Industry ChamberDaily News Egypt
(MENAFN - Daily News Egypt) The decline in imported wheat this year came as a result of the abundant supply of wheat by farmers compared to the last year, according to Tarek Hassanein, head of the ...

 Jun 3 2015 - Arabian Cement's net profit declines 52% despite 11% revenue increaseDaily News Egypt
(MENAFN - Daily News Egypt) Leading cement producer Arabian Cement recorded an 11% increase in revenues of EGP 585m, during the first quarter (Q1)of 2015, compared to the same quarter last year. ...

 Jun 3 2015 - COMESA activation promotes Egyptian pharmaceutical exports to Africa: El-EzabiDaily News Egypt
(MENAFN - Daily News Egypt) Activating the three African economic blocs will develop and promote Egyptian pharmaceutical exports to Africa, according to Ahmed El-Ezabi, Head of the Pharmaceutical ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help