27/09/2017 06:11 AST

In the first half of 2017, Middle East and North Africa (Mena) IPO activity witnessed 16 deals, representing a 100 per cent increase when compared to the first half of 2016. Announced Mena value, or capital raised, reached $788 million in H1 2017, a 21 per cent decrease from the first half of 2016.

Out of the 16 IPOs, nine IPOs worth $200.5 million were from companies listed on the Saudi NOMU market. The cross-border IPO of ADES International Holding Ltd raised $243.5m on the London Stock Exchange and was the largest IPO of a Mena company, by capital raised, year-to-date. “Increasing stability in oil prices and confidence in the global economy and markets are likely to drive an increased IPO activity in 2017 and 2018 across Mena, with a strong backlog of companies potentially preparing to come to market. The key driver for the Mena IPO market will likely be the privatisation of leading government-owned assets across a number of sectors,” Gregory Hughes, EY Mena IPO Leader, said.

The greenfield IPO of Orient UNB Takaful in second quarter of 2017 represents the first IPO on the Dubai Financial Market (DFM) since the IPO of Dubai Parks and Resorts in 2014. Volume of deals increase in GCC

The GCC saw 13 IPOs raised in the first half of 2017, a 33 per cent increase on the deals announced for the same period last year. However, deal value declined by 6 per cent to $700 million in first half of 2017 compared to the same period last year.

The highest capital raised in the first half of 2017 was in the oil and gas sector with one deal announced at a value of $243.5 million. The construction industry followed with one deal valued at $135 million. The third most valuable IPO by capital raised was in the real estate investment trust (REIT) at $105 million for one deal.

In the first half of 2017, oil prices continued to fluctuate between $45 and $55 per barrel as the initial effect of agreed oil production cuts by Opec and non-Opec members continue to be impacted by ongoing market factors, resulting in a downward trend toward the end of the second quarter of 2017. However, the continued drive for privatisation across Mena countries is likely to result in an increase in the number of IPOs on exchanges.

“Global IPO activity should continue to strengthen in the second half of 2017, underpinned by capital markets reaching all-time highs. Investor sentiment has improved and the global outlook is more positive, which should reflect on the IPO market in the Mena region,” Mayur Pau, Mena Financial Services IPO Leader, EY, said.


Gulfnews

Ticker Price Volume
APPC 54.00 155,692
QNBK 174.99 351,181
SFICO 16.78 819,438
SABIC 125.80 2,734,453
ALMARAI 49.20 526,295
SAICO 12.10 214,447
TAWUNIYA 55.50 354,465

ADX 4,891.78 2.99 (0.06%)

Market
Dividend Yield (%)
P/E
Price/BookValue
Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
ADIB 3.61 -0.01 (-0.28%)
FAB 14.32 0.06 (0.42%)
ADCB 7.82 0.07 (0.90%)
CBI 0.63 0.00 (0.00%)
UNB 4.96 -0.04 (-0.80%)

DFM 2,754.04 0.75 (0.03%)

Market
Dividend Yield (%)
P/E
Price/BookValue
Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
EIB 10.00 0.00 (0.00%)
EMIRATESNBD 8.80 0.00 (0.00%)
EMAAR 4.81 0.00 (0.00%)
DIB 5.28 0.03 (0.57%)
EMAARMALLS 1.78 -0.05 (-2.74%)
CMA announces the Approval on the IPO of Gulf Steel Works Factory Company's Shares

25/09/2018

.The CMA Board has issued its resolution approving Gulf Steel Works Factory Company's application for the offering of (6,000,000) shares representing (30%) of the Company’s share capital. The Company

Tadawul

Oman's share index declines

25/09/2018

The MSM30 index ended lower on Monday and closed at 4453.27 points, down by 0.74 per cent. MSM Sharia Index closed at 616.73 points, down by 0.32 per cent. Gulf Investment Services was the most activ

Times of Oman

UAE indices bound in narrow ranges as trade values shrink

25/09/2018

The UAE’s main stocks indices continued to trade within narrow ranges on Monday as trade values dwindled further amid a lack of catalysts to drive much buying or selling activity.

The Dubai

Gulf News

Stocks sluggish as Boursa Kuwait makes FTSE entry

25/09/2018

Kuwait stocks sagged on Monday even as investor’s toed caution amid bourse’s formal entry into the FTSE Russell index.

The All Shares Index fell 3.65 points in a tame session to 5,089.68 p

Arab Times

Lack of catalysts keeps UAE stocks nearly flat

24/09/2018

A lack of catalysts coupled with low trade values kept the UAE’s main equity indices nearly flat on Sunday, with expectations for Dubai’s stocks still on the bearish side.

The Dubai Financi

Gulf News