By Ben Flanagan
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.