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IPOs

All GCC capital markets are expected to be busy in 2023

‘Pent-up demand’ to lift GCC markets, says law firm boss

Appetite for GCC debt and equity will pick up this year after a sluggish 12 months, as investors take comfort in a more predictable interest rate environment and the region’s relative political calm.  That is according to Jonathan Fried, Middle East managing partner of global law firm Linklaters, who took over the reins heading up […]

UAE capital markets

UAE capital markets set for ‘significant growth’, says regulator

If 2022 was a year of recovery from the economic effects of the coronavirus pandemic, then 2023 will witness “significant growth” in the UAE capital markets. Mohamed Khalifa Al Hadari, deputy CEO of the Emirates Securities and Commodities Authority, told the inaugural Mena IPO Summit in Dubai that there are 11 initial public offerings (IPOs) […]

The Saudi Logistics order book was 72 times oversubscribed

Management consultancy for PIF said to list on Saudi market

Saudi-based management consultancy TAM Development Co. is planning an initial public offering (IPO) in the first half of the year, Bloomberg reported, citing CEO Abdullah Yousef. TAM is planning to list on the kingdom’s small-cap market, he added, with plans to move to the main exchange within two years. The consultancy derives most of its […]

UAE financial literacy

UAE is in ‘first division’ of financial literacy

The UAE is in the ‘first division’ when it comes to financial literacy, according to Alex Fraser, CEO of the London Institute Banking and Finance (LIBF). With just one third of adults worldwide being financially literate, according to Standard & Poor’s Ratings Services Global Financial Literacy Survey, the LIBF is involved in the global challenge […]

IPOs, Mena, Stock, Exchange

Rising global interest sets Dubai IPOs on course for strong 2023

Global stock markets may have suffered heavy losses but bourses in the Middle East and North Africa are thriving, recording 42 listings in 2022 and with a healthy pipeline of activity planned for the year ahead.  According to Bloomberg data, Mena initial public offerings (IPOs) raised over $18 billion in 2022. This represents 47 percent […]

People, Person, Man

Qatari bank Dukhan set to list on Doha’s main market

Dukhan Bank, Qatar’s fifth-largest bank, is planning to go public and list on the Doha stock exchange. The bank, which has total assets in excess of QR100 billion ($27.5 billion), agreed the proposal at an extraordinary general assembly meeting on Sunday. Its share capital will be listed on the main market of the Qatar Stock Exchange […]

Dubai Mall owner Mohamed Alabbar attended the opening of Peet's Coffee flagship at the mall in his capacity as chairman of Americana, franchisee of the coffee chain

Dubai Mall shoppers up 20% on pre-Covid levels, says Alabbar

Visitor numbers at the Dubai Mall are a fifth higher than they were before the coronavirus pandemic, said Mohamed Alabbar, founder and chairman of Emaar Properties, the developer of both the Dubai Mall and Burj Khalifa. Alabbar said economic recovery from the pandemic is not only complete, but has exceeded 2019 figures. Footfall at the […]

Petromin reported to launch $1bn public offering

Saudi Arabia’s lubricants firm Petromin is planning for its initial public offering (IPO) to raise as much as $1 billion, Bloomberg reported, citing informed sources. The company has engaged Saudi National Bank and Moelis & Co. on the planned IPO. More banks may also be added to the syndicate, they said, adding details of the […]

Infrastructure was among the non-oil sectors that saw a year-on-year increase in Mena revenue generated by FTSE-listed companies

Why the Middle East is now a ‘must’ for top UK companies

The Middle East’s contribution to revenues of major UK-listed companies is predicted to rise to record levels in 2023 on the back of an acceleration in green energy, industrials and infrastructure sectors. Lumina Capital Advisers report that money generated from the region this year will deliver an additional £1.6 billion ($1.9 billion) to UK Plc […]

Taaleem CEO plans UAE schools expansion after $204m IPO

Taaleem, the first education company to be listed on the Dubai Financial Market (DFM), is planning to launch new premium school projects in the UAE “in the near future” following its successful initial public offering (IPO). The company is also on a global search for the world’s best teachers as it announced net profit increased […]

Hazem Ben-Gacem, co-CEO of Investcorp, seen at Abu Dhabi Finance Week. Investcorp has bought a 215,000-sq-ft warehouse in Dammam, Saudi Arabia

Bahrain’s Investcorp to spend $1bn on real estate across GCC

Investcorp is planning to invest up to $1 billion in the GCC real estate market over the next five years, it said on Tuesday. The Bahrain-based company’s announcement follows its first property acquisition in Saudi Arabia: a 215,000-sq-ft temperature-controlled warehouse in Dammam. Investcorp is assessing $100 million worth of potential real estate investments in the […]

Experts from companies that have listed will share their thoughts at Dubai's Museum of the Future

Mena to host first IPO summit with listings in high demand

The Middle East’s first IPO-focused summit will take place in Dubai later this month after recent listings in the emirate proved a huge draw for international investors. Dubai Financial Market and the Dubai World Trade Centre (DWTC) have partnered to host the Mena IPO Summit – Dubai, which aims to unite the entire IPO value […]

Hotdesk co-working space

Dubai co-working startup eyes new funding as it goes global

Hotdesk, an on-demand workspace booking platform based in Dubai, is preparing to launch a Series A round of funding as the startup continues to enjoy exponential growth throughout the region and globally. The company, which provides access to co-working spaces at the click of a button, was launched in 2021. It has since expanded into […]

Plenary have opened their second office in the UAE

Australian titan grows public-private partnerships in Gulf

Plenary Group, the Australia-based investor, developer and manager of public infrastructure with assets under management worth more than $45 billion, is expanding its Middle East operations and has projects in the UAE and Bahrain in its sights. The company has opened its second office in the UAE, in Dubai, just months after launching in Abu […]

Cup, Tree, Plant

KFC Mena franchisee set for first GCC dual listing next week

Americana Restaurants, the Middle East and North Africa franchisee of KFC and Pizza Hut, will list on the Abu Dhabi Securities Exchange (ADX) and the Saudi Exchange (Tadawul) next Monday, the two bourses said in statements on Friday. According to a circular issued by ADX, the shares will be listed on the exchange under the […]

People, Person, Man
  • Analysis

Xi Jinping visits Saudi as GCC looks east on trade

When President Xi Jinping of China arrives in Saudi Arabia on Wednesday, it is likely to add further momentum to a flourishing relationship with the GCC that surpassed trade with the US and Europe combined last year. Three summits are planned during the three-day visit with over 20 agreements worth more than $29.3 billion expected […]

Iraq

Iraq: a hidden gem for bargain-hungry tech investors

Flush with oil and boasting one of the Middle East’s largest and youngest populations, war-blighted Iraq could yet be the region’s next big investment destination. Many of the apparent disadvantages of Iraq, such as being a cash-based society and low startup valuations, present opportunities for the right investors looking to use their cash for maximum […]

ICD's investment portfolio includes some of Dubai’s biggest companies, including Emirates National Oil Company (Enoc), Emirates airlines and the Commercial Bank of Dubai

Dubai’s wealth fund hunts for opportunities after H1 profit

The Investment Corporation of Dubai (ICD) said it would remain “cautious and selective” when making new investments, having reported a tenfold annual increase in net profit to $4 billion for the first six months of 2022.  Described by ICD as “exceptional”, the results mark a return to pre-pandemic-level earnings by the Dubai sovereign wealth fund, […]

Heavy industries replace tech in Middle East funding rounds

More traditional industries such as manufacturing and oil and gas services have replaced technology as the driving force behind capital flows between Europe and the Middle East, according to new research The switch comes as technology giants including Alphabet, Microsoft, Meta and Amazon reported disappointing third-quarter results and the tech-heavy Nasdaq stock market has lost […]