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Islamic Finance Briefing - Categorized | Capital Market (Equity, Mutual Funds), Market Moves more

Saudi Arabia fertile ground for IPOs

Posted on 21 November 2011

Saudi Arabia is poised to emerge the strongest for initial public offerings (IPOs) despite the sluggish performance of the Gulf Cooperation Council (GCC) market with only two listings in the region in the third quarter of 2011 as compared to the three in the second quarter.
PwC, a leading international professional services organization, said in its Q3 Capital Markets Watch Report on Sunday that both the IPOs in Q3, 2011 were issued in the Kingdom raising a total of SR821 million ($219 million) — Hail Cement Company SR491 million ($131 million) and United Wire Factories Company SR330 million ($88 million)………………………………………..Full Article: Source

 
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