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IPO interest still strong
- Saudi Arabia: Thursday, August 03 - 2006 at 08:10
The recent fall in liquidity in GCC stock markets has not stopped investor enthusiasm for buying into new floats, say analysts. In Saudi, the $680m float of Emaar The Economic City had raised over $1.78bn at the end of the ninth day, an oversubscription by 2.7 times; while in the UAE, bankers are reporting strong interest in the IPO of shipping firm Gulf Navigation Holding, which closes on 7 August.
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James McInerney, News EditorThursday, August 03 - 2006 at 08:10 UAE local time (GMT+4)
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This article was updated on Fri Aug 04 2006.
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