"Depressed Initial Public Offering (IPO) activity in the Gulf Cooperation Council (GCC) continued into the second quarter of 2013 with three new listings raising a total of only USD 48 million.
This compared to two IPOs in Q1 2013 raising an aggregate of USD 337 million, representing an 86% decrease in total value raised.
The average offering value dropped 94% this quarter compared to the same quarter last year where we witnessed four IPOs raising a total of USD 1.1 billion."
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