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GCC IPO activity improves in Q2  Join our daily free Newsletter

MENAFN - 10/07/2012

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(MENAFN) PwC's Capital Markets Watch GCC report showed that during the second quarter, initial public offering (IPO) activity in the Gulf Cooperation Council (GCC) improved with 4 IPOs raising USD1.04 billion on the region's stock exchanges, reported The Peninsula.

The report also revealed that the value represents a hike of 69 percent from last year's same period when 3 IPOs took place, raising USD340 million.

During the second quarter, average IPO offering value went up to USD276 million, up from USD113 million in the same period a year ago and USD39 million in 2012's first quarter.

It is worth noting that the main IPOs during the quarter included Al Tayyar Travel Group, which raised USD365 million on the Saudi stock exchange and the IPO of the Saudi Airline Catering Company, which raised around USD354 million, also on the same exchange.

 






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