Qatar Petroleum Joins Gulf IPO Revival as Dubai Shares Surge - Bloomberg

Qatar Petroleum Joins Gulf IPO Revival as Dubai Shares Surge - Bloomberg:

"Qatar Petroleum and Just Falafel are leading companies in the Persian Gulf out of a four-year drought in initial public offerings, tapping demand that pushed Dubai’s equity index up the most in 2013 among major markets.
Qatar Petroleum, the state-run energy company, plans to raise 3.2 billion riyals ($879 million) from a share sale in unit Mesaieed Petrochemical Holding Co. next quarter, two people with knowledge of the plan said this week. Just Falafel, the fast food chain that plans to expand its more than 40 restaurants, is considering the sale of a 25 percent stake this year, two people aware of the matter said last week.
“There is significant pent up demand and if this next cohort can raise at reasonable valuations and perform well, many more may follow,” Emad Mostaque, a London-based strategist at Noah Capital Markets, said by e-mail Sept. 23. “Companies need cash for expansion and valuations are now reasonable again to raise equity capital.”"

'via Blog this'