MIDEAST STOCKS-Qatar's Mesaieed soars on debut, Egypt retreats on political uncertainty | Reuters:
"* Mesaieed priced at almost 3 times fair-value estimates
* Qatar retail investors dominate, institutions stay away
* In Egypt, Sisi presidential bid may not be declared soon
* Cairo index's uptrend may pause around 8,000 points
* Ma'aden surges after Saudi gold deposits found
By Nadia Saleem
DUBAI, Feb 26 (Reuters) - Qatar's Mesaieed Petrochemical Holding soared on its first day of trading on Wednesday, while Egypt's bourse retreated because of uncertainty over the timing of a hoped-for presidential bid by Field Marshal Abdel Fattah al-Sisi.
Shares in Mesaieed, a unit of state-owned Qatar Petroleum, rocketed 450 percent from their initial public offer price to close at 55.0 riyals, after touching an intra-day high of 73.90 riyals. It was Qatar's first new listing since 2010.
Because the IPO was only open to Qatari investors and a limited amount of information was released by the company, the stock has only been thinly covered by analysts. But most estimates for fair value were around 20 riyals."
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