exchange activity continued to pick up in Q2 2019, with 302 IPOs
raising $56.8 billion, marking an increase of 47.3 per cent in IPO
volumes compared with Q1 2019, despite the US-China trade tensions and uncertainties related to Brexit.
Once the account has been approved, the investor can participate in the LSI program whenever there is an IPO
This facility was introduced with the objective of facilitating new investors and encouraging maximum participation of retail investors in the IPO
. Around 900 new investors participated in the Inter-loop IPO
through this facility, which is a testament of the success of pilot phase.
"While the interest from several companies across the MENA region to execute an IPO
is high, especially for those looking to access international investors and exchanges, many plans have been delayed for numerous reasons, including underperformance of businesses due to the challenging economic environment, global market volatility, and the time it takes to adapt to public company listing requirements.
Nevertheless, Kamco believes that companies from the GCC with unique business models, industry classification and ability to show capital efficiency should continue to garner increased interest from both the local and international investors looking at IPO
A lot of investors love a good IPO
story, whether on an IPO
firm that soared after its initial offering or one that has overinflated in the early excitement.
Furthermore, Oman's Muscat Securities Market (MSM) had a single IPO
listing for Dhofar Generating Company in the power and utilities sector raising $52.0m.
Oman was the only other GCC country with IPO
activity in the second quarter; the Muscat Securities Market (MSM) recorded a single IPO
in the quarter raising US$12.8mn.
activity started out on a high in the only region up over Q1 2017 in terms of proceeds and number of deals.
activity is poised for further growth in 2018, especially with government and quasi-government owned assets preparing to go public in Kuwait, Egypt, KSA and the UAE.
The GCC is set to witness an unprecedented boom in initial public offerings (IPOs
) in 2018 with the UAE and Saudi Arabia leading the way as nearly 30 companies are poised to go public, stock marekt analysts said.
Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) led the GCC IPO
activity this quarter (Q4 2017) in terms of proceeds, with two major offerings, raising $2.2 billion (88 per cent of total GCC proceeds).