Gulf initial public offerings (IPOs) have fallen by half in the first six months of this year as civil unrest and a global economic slowdown discouraged investors and delayed transactions.
PricewaterhouseCoopers (PwC) said deal values in the region, which includes Saudi Arabia and the UAE, have plunged by 57 per cent to US$358 million from $830m a year earlier.
Three out of the only four IPOs in the region in the first half were from UAE companies. Financial markets were rocked this year by the Arab Spring that ousted leaders in Tunisia and Egypt, followed by a US downgrade and worsening European debt crisis.
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