Markets Bahrain’s Investcorp completes first IPO in Indonesia By Andy Sambidge September 25, 2023, 1:27 PM Reuters/Mike Blake Investcorp co-CEO Rishi Kapoor. The Bahraini investment company has more than $50 billion in assets under management across three continents Mothercare IPO is company’s 26th Brand growing in Indonesia Cepa deal aims for $10bn non-oil trade Investcorp has successfully listed its Indonesian franchisee of the Mothercare brand as its focus on Asia continues to grow. The listing of PT Multitrend Indo is the Bahrain alternative investment company’s first IPO on the Indonesian stock exchange and the 26th in its 40-year history. Mothercare is one of Indonesia’s leading baby and kids retailers, operating more than 126 stores and distributing more than 21 brands. Investcorp reaps huge gains on stake sale in India’s Safari Investcorp looks East with office opening in Japan Investcorp to set up ‘multi-billion dollar’ sustainability platform Investcorp said the brand’s growth is backed by strong demographics in Indonesia, which has the fourth largest population in the world at around 280 million. The country also has one of the highest fertility rates in Asia, with 4.3 million babies born every year. Investcorp now has five offices across Asia, with more than $1.2 billion invested in 40 companies. Executive chairman Mohammed Alardhi said: “It has only been six years since we set up our presence in southeast Asia and we’re seeing great potential for business.” Investcorp’s focus on Asia mirrors greater wider Gulf interest in Asian markets and Indonesia in particular. The UAE-Indonesia comprehensive economic partnership agreement (Cepa), which came into force on September 1, aims for $10 billion in bilateral non-oil trade within five years. Under Cepa terms, more than 80 percent of UAE exports to Indonesia will be exempt from customs duties.
Renewable Energy Masdar views Middle East as biggest growth market UAE’s renewable energy company Masdar considers the Middle East its biggest market, even though its target is to grow globally, a senior executive has said. “The Middle East is the biggest market for us, we are a company from here, and this market is growing significantly,” Abdulaziz Alobaidli, chief executive officer of Masdar, told AGBI […] 2 hours ago
Trade Kenya-UAE Cepa may increase food exports and investment The UAE and Kenya have signed a comprehensive economic partnership agreement (Cepa) that is predicted to lead to a threefold increase in food exports from the East African nation. The trade deal, which was agreed in February last year, is expected to accelerate trade and investment in agriculture, infrastructure, healthcare, travel and tourism, financial services and […] 2 hours ago
Economy Inflation, not war, is Gulf states’ top concern, says WEF Economic concerns such as inflation dominate risk perception for the coming year in the Gulf and across Mena, according to the World Economic Forum. Its survey of thousands of experts and business leaders, the Global Risks Report 2025, found that geopolitical conflict was the No 1 risk globally, selected by respondents as the “most likely […] 47 mins ago
Oil & Gas Adia to help fund $1bn Malaysian oil and gas firm Abu Dhabi Investment Company (Adia) is to invest in an oil and gas equipment-making unit in Malaysia. Adia is participating in the $1 billion funding round for Yinson Holdings’ equipment-maker alongside Asian investment firm RRJ Capital and British Columbia Investment Management. The funding, expected to close in the first quarter of 2025, will primarily support […] 34 mins ago
