Jul 01 2012
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MARKET TALK: More IPO's Expected in Saudi Arabia in 2H 2012 -PwC
Sunday, Jul 01, 2012
0900 GMT [Zawya Dow Jones]--IPO activity in the Gulf region in the second half of 2012 will continue to be dominated by Saudi Arabia with listings in other markets remaining limited, according to a PwC report. "Our outlook for the rest of 2012 is for a continued IPO upward trend in the KSA market with perhaps limited to no activity on other regional markets," says PwC's Steven Drake. Study shows that four IPOs raised $1.1 billion on the GCC stock exchanges in 2Q compared with three IPOs which raised $340 million in Q2 2011, a 69% increase in value. In Saudi Arabia, Al Tayyar Travel Group and Saudi Airline Catering Company raised $365 million and $354 million respectively. "With what is happening in the Eurozone and the slowing of some of the high growth markets such as China and India, it is difficult to determine the impact this will have on our regional markets," Drake says. (firstname.lastname@example.org; Twitter: @ZDJnews)
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