The market for Gulf-region companies wanting to sell and list shares is reviving, spurred by economic prospects and rejuvenated stock markets. Bankers say the likelihood of more sales in the coming months is increasing.
Middle Eastern and North African companies raised a total of $1.37 billion in the first six months via initial public offerings. That compares with $396.47 million in the first half of 2011, according to Ernst & Young.
At the heart of this IPO rebound is a jump in stock trading activity coupled with rising valuations. Daily turnover on Gulf stock markets has almost doubled compared with last year, according to data from Zawya.com. Dubai's DFM General Index is up about 16% and Saudi's benchmark Tadawul Index gained more than 10%.
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