Investcorp Chair Sees IPO Market Improving in the Gulf - Bloomberg
The outlook for initial public offerings is getting better in Gulf markets, according to Investcorp’s Executive Chairman Mohammed Alardhi.
“The IPO market is improving in the Gulf for sure,” Alardhi said in an interview with Bloomberg Television at Davos. The region offers “a very compelling long-term investment market,” he added.
The Middle East’s initial offering boom started losing steam last year as valuations came under scrutiny and oil prices stayed well below their peak. Still, some upcoming listings might boost momentum this year, while Saudi Arabia is opening up its equities to all foreign investors.
Alardhi said that his firm is looking at infrastructure opportunities in the Gulf. Last May, Investcorp agreed to invest in a $550 million infrastructure project in Oman through its joint venture with a unit of Aberdeen Group Plc.
An alternative asset manager, Investcorp has about $60 billion in assets under management with offices globally.
While the firm continues to be weigh a liquidity event down the line, like an IPO or a deal with a strategic investor, “there is nothing concrete at the moment,” according to Alardhi.
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