#Qatar leads Mena 2018 IPO activity in value - The Peninsula Qatar

Qatar leads Mena 2018 IPO activity in value - The Peninsula Qatar:

Qatar witnessed the highest valued IPO in 2018 in the Mena region with the listing of Qatar Aluminum Manufacturing Company (Qamco) on the Qatar Stock Exchange (QSE), raising $745.6m in Q4.

FTSE Russell announced the entry of Qamco to the FTSE Index within the first week of trading, owing to the positive response generated by the IPO (it was 2.5 times oversubscribed). The Qatar exchange has performed well in 2018 with prospects of inflows from investors tracking emerging-market indexes after the relaxation on foreign ownership curbs, the latest EY MENA IPO Eye report noted.

Phil Gandier (pictured), MENA Transactions Leader, EY, said:“The successful subscription of the Qatar Aluminum Manufacturing Company (Qamco) reflects the strength of Qatar’s economy, and the government’s mandate towards supporting capital markets and privatization as it pursues diversification of the economy.”