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IPO deals fall sharply in Mideast in 2009
- Middle East: Wednesday, December 30 - 2009 at 10:19
Consultancy firm, Ernst & Young has said that the value of IPOs in the Middle East and North Africa had dropped by 83% this year as issuance ground to a halt in the wake of the global financial crisis, Reuters has reported. The value of new offerings had slumped to $2.06bn on 15 deals in 2009, from $12.46bn in 2008 on an unspecified number of deals. However, analysts expect activity to pick up in 2010, with three Saudi firms announcing IPO plans for early next year.
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StaffWednesday, December 30 - 2009 at 10:19 UAE local time (GMT+4)
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