Deloitte: Over 70% of MENA equity market leaders expect increased volume of IPOs in the GCC regionDOWNLOAD
21 October, 2013 – Whilst the regional and international equity markets have generally been depressed post global financial crisis, early signs of recovery are appearing with higher volumes being traded on some of the regional exchanges, and more interest from foreign investors. On the other side, the GCC economies are showing positive signs of recovery across a multitude of sectors, including retail, tourism, real estate and infrastructure.
According to Deloitte Middle East’s first Equity Capital Markets Confidence Survey, “From a trot to a canter?”, the Tadawul (Saudi Stock Exchange), the Dubai Financial Market (DFM) and the Qatar Exchange (QE) are expected to be the most active GCC exchanges over the next 12 months, and there is a strong pipeline of issuers looking to launch IPOs regionally as well as on international stock exchanges.
The survey, which was conducted through meetings with 30 equity capital market practitioners within regional and international banks operating in the GCC, covering the MENA region, covers topics such as the macro-economic environment, valuations, the IPO process and regulations amongst other themes.
“The successful listing of NMC Healthcare and Al Noor Medical on the London Stock Exchange demonstrates the attractiveness of the MENA region to international investors, providing an alternative for regional issuers outside of the GCC exchanges. It will certainly be interesting to see how the GCC markets will respond to attract regional issuers and foreign investors to regional exchanges” said Adnan Fazli, equity capital markets leader at Deloitte Corporate Finance Limited, in the MENA region.
Highlights of the survey results include:
To view the survey results, go to:
- Ends -