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IN PICTURES: GCC IPOs in 2012

With Omani alizz currently open for subscription, Kipp takes a look at some of the big names in the IPO market in the GCC

September 23, 2012 5:16 by

  • Omani alizz is aiming to raise as much as OMR 400 million with its listing on the Muscat Securities Market. The IPO, which is backed by some local names including Abu Dhabi’s Aabar Investments, Tasameem Real Estate and First Energy Oman, is currently opened for subscription till October 21 selling at OMR 0.102 per share

  • According to research from Ernst & Young companies in the Middle East raised more than $1.37 billion in the first six months of 2012 through IPOs, a marked improvement to the $396.47 million raised during the same period, last year.

  • In 2011, nine IPO issues saw the GCC raised $796 million –a drop of 61 percent from 2010. The top earner was Saudi Arabia followed closely by the UAE.

  • Paris Gallery has announced a potential listing with either the Dubai Financial Market and sister bourse Nasdaq Dubai. Calling it a ‘safety net’ Paris Gallery CEO Mohammad Al Fahim has refused to comment on the value or stake the company is likely to float.

  • Arabian Business reports plans of Saudi German Hospitals Group (SGH) to list its shares on the Saudi Tadawul within two years

  • The Habtoor Group,  has announced plans to list on Dubai Nasdaq early next March with hopes to raise as much as $1.3 -$1.6 billion—floating as much as 25 percent of the company.

  •  Saudi Arabian Airline’s Saudi Ground Services is planning an IPO for 30 percent of its shares, although banking sources told Reuters the listing wouldn’t happen till early 2013

 
 

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