Monday 20 April 2009

No new major IPOs until 2010 - Nasdaq Dubai

Gulf economies will be in "wait and see mode" until the beginning of next year, the head of Nasdaq Dubai said on Monday.

Jeff Singer said he had become more bearish in the last quarter as trading volumes on the region's five largest stock exchanges plummeted by 70 percent.

"That's not good news," he said, adding that any IPOs this year would probably come from smaller companies.

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