May 24, 2022

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IPO deals in the Middle East and North Africa set a historic record of $ 7.9 billion in 2021.

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The Ernst & Young (EY) report on 2021 IPO activity in the Middle East and North Africa raised $ 7.9 billion from 20 IPO deals in 2021, reaching 325 with a significant increase of 133% in total IPOs. Percentage of total income. Collected compared to 2020.

This year’s largest IPOs in the Middle East and North Africa were in the utilities, energy and financial services sectors, where the list of International Water and Energy Works (ACWA Power) companies in the Tadaul market tops IPO deals. Valued at $ 1,211 million.

The main Tadaul market saw five public deliveries in the fourth quarter alone, and the energy sector saw the second largest public supply in the region in terms of value by 2021, as managed by ADNOC Drill in the two parallel “Nomu” markets. Raise $ 1.1 billion through its subscription to the Abu Dhabi Securities Exchange in the last quarter of the year.

The IPO market in the Middle East and North Africa returned to activity in the last quarter of 2021, recording 13 IPOs with revenues of $ 5.6 billion. Globally, 2021 was the busiest year in the IPO market for more than 20 years, raising a total of 2,388 contracts worth $ 453.3 billion, a 64% increase in the number of contracts and a 67% increase in turnover over the previous year.

Brad Watson, Head of Agreements and Strategy for the Middle East and North Africa at EY, said: “The IPO market in the Middle East and North Africa (MENA) region has achieved record performance in 2021, with an unprecedented increase in the number of contracts, in the context of pro-regional regulatory action in the Middle East and North Africa. Investor sentiment in the markets improved.

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The IPO activity was generally encouraging, especially in the last quarter of the year, when ACWA Power Saudi Arabia launched the largest IPO in the region throughout the year, followed by ADNOC drilling.

Stock markets in the Middle East and North Africa recorded better performance in 2021. Abu Dhabi topped the stock market performance in the Middle East and North Africa by 2021 with a revenue growth of 68%, followed by a 30% increase in its index for 2021, while the Dubai financial market saw a growth of 28%.

The Abu Dhabi market is listed by ADNOC Drilling as the second largest public offering in the Middle East and North Africa with revenue of $ 1.1 billion by 2021.

The fund specializes in small and medium enterprises and seeks to invest in underwriting contracts for five to ten private companies each year.

The Abu Dhabi Market and the Department of Economic Development in Abu Dhabi have submitted to the Securities and Exchange Commission a proposal to approve a regulatory framework for special purpose acquisition companies, with the aim of providing additional alternatives to exporters. The authority has since approved this regulatory framework, which paved the way for the first time in the region to list such companies in the Abu Dhabi market.

Late last year, Dubai announced the list of 10 state-owned and state-owned companies in the Dubai Financial Market as part of an effort to accelerate new listings in various sectors, including energy, logistics and retail.

Dubai also plans to encourage private and family companies to list on the Emirate Stock Exchange. Encourage them to list on the Dubai Financial Market.

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