Mesaieed IPO most valued in Mideast | Economy | Saudi Gazette

Mesaieed IPO most valued in Mideast | Economy | Saudi Gazette:



"The recently implemented nearly QR3.3 billion worth Mesaieed Petrochemical Holdings IPO was the largest valued offerings during the first quarter of 2014 in the Middle East, according to Thomson Reuters Deals Intelligence Middle Eastern Investment Banking Analysis on M&A activities.



In a statement, Thomson Reuters’ analysis said initial public offerings (IPO) activities in the region during the first quarter, witnessed a sharp decline of 37 percent compared to the corresponding period last year.
Nadim Najjar, Managing Director, Middle East, Africa, and Russia/CIS, said: “Middle Eastern companies raised $1bn from two IPOs during the first quarter of 2014, a 37 percent decline in IPO activity compared to $1.6 billion from the same period in 2013.”



“The larger of the two IPOs was the $905m offering from Mesaieed Petrochemical Holdings, a unit of state-owned Qatar Petroleum. It was Qatar’s first IPO since 2010. Egypt’s Arabian Cement Company raised $109m in March. As sole bookrunner on the Mesaieed Petrochemical Holdings initial offering, Qatar National Bank took first place in the Q1, 2014 Middle Eastern ECM ranking,” Najjar said."



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