GCC firms raised
The Mena IPO market continued its recovery to end the first half of the year strongly, according to EY's Mena IPO update for the second quarter of 2014. There were a total of 16 deals raising
In the second quarter of 2014, IPO activity in the region picked up pace and there were 11 IPOs raising
"The IPO market is very strong across Mena, particularly among the GCC countries which continue to attract large IPOs and drive the strong performance in the region. In the first half of the year, the majority of IPO deals were in Q2, which is a good indication for a positive second half of the year," said
"The regional IPO market has seen some notable developments in terms of new deals.
The MENA stock markets have continued the upward momentum from 2013 this year, remaining attractive with average price-to-earnings (PE) of 13.9 at the end of
The number of IPO focused funds in Mena could be on the rise with more IPOs set to enter Mena markets in the next two years, which could bring in greater investment and IPO opportunities.
"In the second half of 2014 we expect the Mena IPO market to remain buoyant with the fundamentals in place for a sustained period of strong and steady IPO activity. With a solid pipeline of IPO-ready businesses across a broad range of geographic markets and from multiple sectors, strong investor confidence and expected "IPO friendly" regulatory and legal reforms in key markets, we expect an uptick of IPOs in the second half of 2014," Gandier.
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