According to Ernst & Young's Middle East IPO Update, regional capital markets raised US$21.7 million in the first quarter of 2011, down 94.8% from the US$420.4 million raised in the first quarter of 2010.
The regional markets raised only 0.45% of global IPO funds in Q1 2011.
Nine IPOs expected to raised around US$4.7 Bn altogether were postponed or withdrawn in the Europe, Middle East and Africa region during March 2011, the largest monthly estimated volume since October 2008.
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