Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

IPO activity to remain on firm footing in 2014  Join our daily free Newsletter

MENAFN - Arab News - 16/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) MENA IPO activity is expected to remain on firm footing in 2014 following a strong uptick in listings in the last quarter of 2013, to close the year with a total of seven deals raising around 726.2 million, according to EY MENA IPO Update: Q4, 2013



Better market fundamentals are expected to support a solid start to 2014 for new offerings



Phil Gandier, MENA transaction advisory services leader, EY, says: "The MENA IPO market is rebounding and recovering. The improving macro-economic backdrop driving up stock market valuations and rising investor confidence in key markets saw the IPO year end on a high. Q4 has seen an increase in both volume and value compared to 2012, registering the highest value of IPOs since 2008.



Gandier added: "Additionally, in our Capital Confidence Barometer report, 73 percent of executives in MENA see the local economy improving, with the highest percentage of confidence being in indicators such as economic growth (70 percent), employment growth (64 percent) and credit availability (59 percent). The confidence in these indicators bodes well for the region as economic growth and credit availability are key drivers for the IPO market.



In Q4, 2013, seven IPOs in MENA recorded a 133 percent increase in terms of volume and 114 percent in terms of value compared to Q4 2012. The largest IPO was from the UAE with DAMAC Real Estate Development Ltd. listing on the London Stock Exchange and raising 348 million in a global depository receipt (GDR) offering. Two other IPOs from the UAE were also in the UK, with two in Oman and one each in Saudi Arabia, Morocco and Tunisia



"Although IPOs have still not reached pre-financial crisis levels, there has been a notable improvement in performance. The stage is set for this momentum to continue across the region and we expect the strong performance in the United States and Europe to reflect in MENA," says Gandier




In 2013, twenty-three MENA IPOs raised 3 billion, a 64 percent increase in terms of volume and 51 percent increase in terms of value compared to 2012. Tunisia led with nine IPOs, followed by five in Saudi Arabia, four in Oman, three in the UAE and one each in Iraq and Morocco



"Family businesses are increasingly looking at IPOs as a means of monetizing wealth, raising capital and institutionalizing the business and the MCSI upgrading of Qatar and the UAE to emerging markets may help to boost interest in the region," says Gandier



Financial services was the leading sector in 2013 by deal volume with seven IPOs, followed by three in the power and utilities sector and two each in transport and the real estate sector



The largest IPO during 2013 was Asiacell Communications in Iraq with a capital raise of 1.3 billion



Three IPOs from the UAE (Al Noor Hospital, DAMAC Real Estate Development Ltd. and Action Hotel Plc) raised 740.7 million from foreign listings on the London Stock Exchange in 2013



"Some issuers have decided to go outside of MENA and it will be interesting to see how this trend of issuers going overseas will develop in the coming year. There is a strong pipeline of good quality businesses preparing to IPO over the next nine months. It usually takes companies 12 to 18 months to get ready to float and there is plenty of preparatory work under way. If the macroeconomic conditions in the region continue to improve, the next 18 months to two years will be quite busy," Gandier added

 


Arab News




  MENA News Headlines
 Sep 27 2016 - Daimler Trucks presents Fuso eCanter and Mercedes-Benz Urban eTruck at 2016 IAAMENAFN Press
(MENAFN Press) World premiere: the all-electric and networked Mercedes-Benz Urban eTruck • Electric truck with the performance of a diesel engine • Innovative design with flowing lines The ...

 Sep 27 2016 - GCC participants enrich the character of Juha in Narrator’s Café at 16th Sharjah International Narrators ForumMENAFN Press
(MENAFN Press) A wide range of participants from Oman, Qatar, Saudi Arabia, Kuwait and the UAE have enriched the contemporary personality of Juha, a folk storyteller persona, during the evening ...

 Sep 27 2016 - California Mesothelioma Victims Center Now Offers a PowerEnergy Worker with Mesothelioma in California Better Options When It Comes to Attorneys with The Goal Better CompensationMENAFN Press
(MENAFN Press) California Mesothelioma Victims Center Now Offers a Power/Energy Worker with Mesothelioma in California Better Options When It Comes to Attorneys with The Goal Better Compensation ...

 Sep 27 2016 - SE UMCC doubled the value of its assetsMENAFN Press
(MENAFN Press) SE UMCC doubled the value of its assets The value of assets of the two companies more than doubled since 2014, reaching UAH 1.7 billion KIEV, UKRAINE, September 20, 2016 ...

 Sep 27 2016 - AnyFlip Flipbook Software Ranked Higher in Digital PublishingMENAFN Press
(MENAFN Press) AnyFlip Flipbook Software Ranked Higher in Digital Publishing AnyFlip won the support of marketers, bloggers and businesses that create attractive flipbooks for online ...

 Sep 27 2016 - foodpanda Malaysia launches World Food Tour campaignMENAFN Press
(MENAFN Press) foodpanda Malaysia launches World Food Tour campaign Celebration to the many cuisines available on the food delivery platform This campaign not only gives our customers a chance ...

 Sep 27 2016 - Satellite Broadband Communication in Public Safety Market Report 2016 - 2021MENAFN Press
(MENAFN Press) Satellite Broadband Communication in Public Safety Market Report 2016 - 2021 PUNE, INDIA, September 27, 2016 /EINPresswire.com/ -- Sales, means the sales volume of Satellite ...

 Sep 27 2016 - Solder: Consumption, Demand, Sales, Competitor and Forecast 2016 2021MENAFN Press
(MENAFN Press) Solder: Consumption, Demand, Sales, Competitor and Forecast 2016 – 2021 Solder Global Market 2016 Analysis and Forecast to 2021 PUNE, INDIA, September 27, 2016 /EINPresswire.com/ ...

 Sep 27 2016 - BriskBard 1.2 Released With New Security FeaturesMENAFN Press
(MENAFN Press) BriskBard 1.2 Released With New Security Features BriskBard's web browser BriskBard's email client BriskBard's logo The latest version of BriskBard has been released with ...

 Sep 27 2016 - Watch Your Mind Maps in Style with Mind Vector For Apple WatchMENAFN Press
(MENAFN Press) Watch Your Mind Maps in Style with Mind Vector For Apple Watch Mind Vector, the No. 1 choice of 1 Million + users worldwide is now available on the Apple Watch. Use the app on ...

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