Saudi Arabia will remain the busiest of the Middle East’s stock markets, even as the United Arab Emirates pushes more companies to go public, according to Goldman Sachs Group Inc.
John Wilkinson, the bank’s London-based head of emerging-market equity capital markets, called 2021 a “standout year” for the Persian Gulf. Initial public offerings by ACWA Power, Solutions by STC and Saudi Tadawul Group Holding Co. in Saudi Arabia, as well as several others in Abu Dhabi, pushed Middle East and North African equity issuance to about $23 billion.
Most of the marquee offerings have posted strong post-IPO performances, sparking further interest from international investors, Wilkinson said.
Saudi Arabia remains “the biggest driver for Middle East ECM,” he said in an interview. “However, we’re seeing Abu Dhabi Inc. becoming more active and obviously the comments out of Dubai’s government will drive bigger volumes from the UAE going forward.”
No comments:
Post a Comment