Market regulator expects IPOs this year, including Emirates Global Aluminium - The National

Market regulator expects IPOs this year, including Emirates Global Aluminium - The National:

The Securities and Commodities Authority expects initial public offerings, including that of Emirates Global Aluminium to go ahead this year, provided the financial market conditions improve, according to a top official.

“We have a couple of IPO requests in the pipeline, but on hold [waiting for] improvement of the financial markets,” said Obaid Al Zaabi, deputy chief executive of SCA, on Wednesday. I’m very optimistic that this year will be a good year. We are going to witness improvements. I think the guys will revisit their decision. There is interest from other companies as well.”

IPO activity in the Middle East and North Africa region picked up in the third quarter of 2018, with value of listings rising 21.9 per cent to $349.9 million through four flotations and Saudi leading offerings, according to advisory EY.