IPO Market Performance in the GCC Region
IPO activity in the GCC region - which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates – saw a spike in the last year. Ali Abbas, senior regional consultant for Turkey and the Middle East and Africa, explains some of the larger IPOs and looks towards economic activity for the region in 2012. The largest IPO for 2011 was UAE's Eshraq Properties Company, with a total offering of US$229.1 million. The rise of real estate activity paired with government spending is likely to trigger more economic activity in the region in 2012.
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