We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Wed 24 Jan 2007 04:28 PM

Font Size

- Aa +

Emirates IPOs to raise $5bn

UAE-based businesses are expected to generate over $5bn through initial public offerings this year.

UAE-based businesses are expected to generate over $5 billion through initial public offerings (IPOs) this fiscal year, according to research by Dubai-based investment bank Shuaa Capital.

The bank said UAE companies would also complete rights issues for $1 billion, a ‘substantial fall’ over previous years.

However, IPO figures are expected to rise to $5bn, representing ‘another record year in terms of equity raising’, according to a Shuaa analyst quoted by Khaleej Times. Bonds could take precedence over new equity issuance, predicts the bank.

Likely offerings in the pipeline include those by DP World – which has recently been awarded good scores by several international ratings agencies – Nakheel and Emirates Post.

Arabian Business: why we're going behind a paywall

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.