{"id":544883,"date":"2022-03-24T03:46:20","date_gmt":"2022-03-24T03:46:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/ipos-gulf-europe\/"},"modified":"2022-03-24T03:46:20","modified_gmt":"2022-03-24T03:46:20","slug":"ipos-gulf-europe","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/ipos-gulf-europe\/","title":{"rendered":"IPOs: Gulf > Europe"},"content":{"rendered":"

<\/a> Gulf > Europe in the IPO market:<\/strong> Surging oil prices are fueling an IPO boom in the MENA region, helping it to surpass the European IPO market for only the second time since the global financial crisis, Bloomberg<\/a> reports. Companies listing in the region have raised a combined USD 4.8 bn in proceeds so far this year, comfortably higher than the USD 3.9 bn in Europe. \u201cThe recent movements in oil prices have translated into regional investors having additional capital to deploy, which is also contributing to propping up the market,\u201d said Andree Chakhtoura, head of investment banking at Bank of America\u2019s MENA unit.<\/p>\n

Twice in 13 years:<\/strong> The only other time that MENA IPOs have exceeded those in Europe since 2009 was in 2019 when Saudi Aramco completed the world\u2019s biggest-ever IPO.<\/p>\n

An IPO best served crunchy:<\/strong> Americana Group, which operates KFC and Pizza Hut in MENA, is in early discussions with advisors for a potential IPO in Saudi Arabia or UAE, Bloomberg<\/a> reports, citing sources with knowledge of the matter. Americana Group, owned partly by Saudi Arabia\u2019s Public Investment Fund (PIF) and an investment vehicle led by UAE businessman Mohamed Alabbar, has held talks with advisors, but has yet to make appointments and the future of a listing is not certain, the sources said. A rare dual listing is also possible, they said, with one of the sources estimating the IPO could raise USD 1 bn. If the IPO goes forward, it would come as the Gulf continues to see an IPO boom, with equities in the Gulf continuing to outperform other emerging markets, which have seen outflows of USD 14.3 bn<\/a> since the beginning of the year.<\/p>\n

Speaking of Gulf equities: The Middle East could see some USD 82 bn of inflows <\/strong>this year<\/strong>, as emerging market funds are bullish on the region, according to a Morgan Stanley note picked up by Bloomberg<\/a>. The forecast cites \u201cfundamental, structural, and technical reasons\u201d that will likely see equities in the region \u201ccontinue to outperform,\u201d with the investment bank going overweight on Qatar, Saudi Arabia, the UAE, and Kuwait in particular.<\/p>\n

MEANWHILE- <\/strong>Shuaa Capital launched a USD 250 mn sharia fund<\/strong>, Shuaa Venture Partners, marking the GCC's largest venture debt fund, it announced in a statement<\/a>.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

11,744<\/p>\n<\/td>\n

\n

+0.7% (YTD: -1.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 18.32<\/p>\n<\/td>\n

\n

Sell 18.42<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 18.32<\/p>\n<\/td>\n

\n

Sell 18.42<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

9.25% deposit<\/p>\n<\/td>\n

\n

10.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,944<\/p>\n<\/td>\n

\n

+0.5% (YTD: +14.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,724<\/p>\n<\/td>\n

\n

+1.0% (YTD: +14.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,361<\/p>\n<\/td>\n

\n

+0.4% (YTD: +5.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,456<\/p>\n<\/td>\n

\n

-1.2% (YTD: -6.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,461<\/p>\n<\/td>\n

\n

-0.2% (YTD: +1.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 121.60<\/p>\n<\/td>\n

\n

+5.3%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 5.12<\/p>\n<\/td>\n

\n

-2.2%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,950.50<\/p>\n<\/td>\n

\n

+0.4%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 42,508<\/p>\n<\/td>\n

\n

-0.2% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 0.7% at yesterday\u2019s close<\/strong> on turnover of EGP 1.04 bn (7.4% above the 90-day average). Foreign investors were net sellers. The index is down 1.7% YTD.<\/p>\n

In the green: <\/strong>Heliopolis Housing (+7.2%), Ezz Steel (+5.8%) and Madinet Nasr Housing (+2.9%).<\/p>\n

In the red: <\/strong>Ibnsina Pharma (-2.0%), TMG Holding (-1.8%) and MM Group (-1.5%).<\/p>\n

Most Asian markets are down in early trading this morning<\/strong>. It\u2019s also a sea of red in European stock futures, while shares in the US are currently poised to rise at the opening bell.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gulf > Europe in the IPO market: Surging oil prices are fueling an IPO boom in the MENA region, helping it to surpass the European IPO market for only the second time since the global financial crisis, Bloomberg reports. Companies listing in the region have raised a combined USD 4.8 bn in proceeds so far […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[184,115,72,119,78,659,1444,508,1389,1445,122,814,1446],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544883","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-apple","tag-emerging-markets","tag-enterpriseam","tag-financial-markets","tag-ipo-watch","tag-kfc","tag-mohamed-alabbar","tag-morgan-stanley","tag-pif","tag-pizza-hut","tag-planet-finance","tag-shuaa-capital","tag-total-energy","wpautop","entry"],"acf":{"mongo_id":"bdd8bf22-5ae2-4aa6-90d7-2eb0e664789d","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[544862],"teaser":"","voice_url":""},"yoast_head":"\nIPOs: Gulf > Europe - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/ipos-gulf-europe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IPOs: Gulf > Europe\" \/>\n<meta property=\"og:description\" content=\"Gulf > Europe in the IPO market: Surging oil prices are fueling an IPO boom in the MENA region, helping it to surpass the European IPO market for only the second time since the global financial crisis, Bloomberg reports. 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The company has already secured a total c.USD 570 mn worth of commitments\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544999,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/30\/lulu-plots-uae-ipo-next-year\/","url_meta":{"origin":544883,"position":2},"title":"LuLu plots UAE IPO next year","author":"enterpriseam admin","date":"30 March 2022","format":false,"excerpt":"Middle East supermarket giant Lulu Group International could IPO in the UAE next year, Bloomberg reports, citing people familiar with the matter. The Abu Dhabi-based, Indian-owned company is reportedly soliciting offers from international banks to advise on the offering. Lulu\u2019s was valued at USD 5 bn during its last valuation\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546952,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/02\/gulf-ipo-market-on-course-for-record-first-half\/","url_meta":{"origin":544883,"position":3},"title":"Gulf IPO market on course for record first half","author":"enterpriseam admin","date":"2 June 2022","format":false,"excerpt":"No IPO winter in the GCC, thanks to rising oil prices: Gulf IPOs are on course for a record first half as surging oil prices and foreign inflows protect the energy-rich region from the turbulence that has threatened listing in other parts of the world, Bloomberg reported. Companies in the\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577461,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/","url_meta":{"origin":544883,"position":4},"title":"Citi bullish on Gulf IPOs in 2023","author":"enterpriseam admin","date":"23 November 2022","format":false,"excerpt":"Citigroup has echoed Goldman Sachs\u2019 optimism for the Gulf IPO market, predicting that the 2022 boom will continue into next year as demand for regional listings continues to rise. Citigroup ranks fourth among banks that have worked on the most listings in the Gulf region this year, behind Goldman Sachs,\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/362.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592322,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/03\/dubais-roads-transport-authority-picks-banks-for-ipos\/","url_meta":{"origin":544883,"position":5},"title":"Dubai\u2019s Roads & Transport Authority picks banks for IPOs","author":"enterpriseam admin","date":"3 August 2023","format":false,"excerpt":"The regulator wants to take its taxi and parking businesses public","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/148.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544883"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544883\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544862"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544883"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544883"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}