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MENA posts 3.8% rise in Q1 IPOs: E&Y  Join our daily free Newsletter

MENAFN - 06/05/2012

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(MENAFN) Ernst & Young stated that initial public offerings (IPO) raised during the first quarter in the Middle East and North Africa (MENA) region rose 3.8 percent to USD82.8 million, from USD21.7 million in 2011's same period, reported Arab News.

The company said that during the period, 4 IPOs were carried out, the same as in last year's fourth quarter, adding that 2 came in Saudi, the first issuance was of Saudi Takween Advanced Industries, raising USD62.38 million, and the other by Tokio Marine Saudi Arabia, which raised USD16 million.

The third was in Morocco, with Afric Industries SA raising USD3.11 million, followed by Tunisia's Hexabyte, which raised USD1.31 million.

It is worth noting that a total of 157 IPO deals were raised globally in the first quarter, valued at only USD14.3 billion, down from last year's USD46.6 billion.

 






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