A resurgence of stock market trading in the Gulf Arab region is raising hopes for a revival of initial public offers, more than three years after the global financial crisis brought share sales to a grinding halt.
Traditionally a popular source of funding for companies in the region, IPO activity suffered a sharp drop during the global financial crisis as moribund equity markets and a lack of investor appetite deterred companies from trying to raise funds through that channel.
It still has not recovered. Equity capital markets issuance in the Middle East, the vast majority of it in the Gulf Arab oil exporters, totaled a meager $1 billion in the first quarter of 2012, a 21 percent decline from a year earlier, Thomson Reuters data shows.
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