HSBC Holdings Plc is often described as a local bank in the Middle East, a perception that’s come in handy this year as initial public offering activity in the region far outpaced the levels seen in Europe.
The British lender claimed the top spot for IPOs in Europe, the Middle East and Africa for the second year running, more than doubling its market share since 2021, according to league table data compiled by Bloomberg.
“It’s only half right to call us a local bank in the Middle East,” said Chris Laing, HSBC’s head of equity capital markets for Central and Eastern Europe, the Middle East and North Africa.
“We really are an international bank with strong local capabilities,” he said, adding that it has 6,000 to 7,000 banking professionals in the region, and the largest emerging markets salesforce in New York, London and Hong Kong.
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