Most Gulf companies seeking to raise funds through initial public offerings (IPO) will delay their plans to go public until at least the end of this year, senior banking and finance officials said today.
“If anything happens in a major way, it is going to happen in the end of the fourth quarter, or most likely coming into 2010,” said Jeff Singer, the chief executive of NASDAQ Dubai, at the Arab Banking Conference in Dubai.
“We’ll be in a wait and see mode for the capital markets probably through 2009.”
Gulf share sales have ground nearly to a halt as investors have fled equities and companies have shelved plans to return to capital markets.
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