Up to a dozen retail-focussed family groups in the Gulf Arab region are ready to go public once global market conditions improve, HSBC said, a move that would give investors access to the fast-growing consumer goods
sector.
The flow of initial public offerings from the Middle East,both on local and international exchanges, has been moribund in recent years as volatile markets put off potential issuers.
"We've got between half-a-dozen to a dozen family groups with retail operations in the (Gulf Cooperation Council) who are waiting to list in locations around the world when market conditions improve," Nicholas Levitt, head of commercial banking in the United Arab Emirates at HSBC told reporters.
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