{"id":546669,"date":"2022-05-24T03:54:45","date_gmt":"2022-05-24T03:54:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/more-ipos-are-being-lined-up-in-the-gulf-a-cypriot-gas-field-you-should-really-care-about\/"},"modified":"2022-05-24T03:54:45","modified_gmt":"2022-05-24T03:54:45","slug":"more-ipos-are-being-lined-up-in-the-gulf-a-cypriot-gas-field-you-should-really-care-about","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/more-ipos-are-being-lined-up-in-the-gulf-a-cypriot-gas-field-you-should-really-care-about\/","title":{"rendered":"More IPOs are being lined up in the Gulf + a Cypriot gas field you should really care about"},"content":{"rendered":"<p>\n  <a id=\"tldr-story-10\" class=\"content-anchor\"><\/a><br \/>\n  <strong>The IPOs in the Gulf just won\u2019t stop:<\/strong>\n<\/p>\n<ul>\n<li>\n    <strong\n      >Abu Dhabi-based petrochemicals firm Borouge is set to raise some USD 2 bn<br \/>\n      in it<\/strong\n    ><strong>s upcoming IPO<\/strong>, after setting its share price at AED 2.45<br \/>\n    (USD 0.67) a share. The company has already secured a total c.USD 570 mn<br \/>\n    worth of commitments from seven anchor investors including sovereign wealth<br \/>\n    fund ADQ, covering its books within an hour of opening. The company will<br \/>\n    offer some 3 bn existing shares \u2014 or a 10% stake \u2014 in its IPO. (<a\n      href=\"https:\/\/www.reuters.com\/markets\/europe\/abu-dhabi-based-borouge-sets-ipo-price-gets-seven-cornerstone-investors-2022-05-23\/\"\n      >Reuters<\/a\n    >)\n  <\/li>\n<li>\n    <strong\n      >Saudi Arabia\u2019s Rawabi Energy hopes to raise up to USD 500 mn ahead of an<br \/>\n      I<\/strong\n    ><strong>PO later this year<\/strong>, which could value the energy company<br \/>\n    at around USD 1 bn. People familiar with the matter said that Rawabi is<br \/>\n    working with New York\u2019s Evercore on the funding, and has opened talks with<br \/>\n    potential investors. It is also talking to banks to appoint financial<br \/>\n    advisors for the sale. (<a\n      href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-23\/saudi-energy-firm-rawabi-seeks-500-million-funding-ahead-of-ipo?srnd=premium-middle-east&sref=mmeFTDW1\"\n      >Bloomberg<\/a\n    >)\n  <\/li>\n<\/ul>\n<p>\n  <strong\n    >The Gulf IPO market is red-hot right now thanks to surging oil<br \/>\n    prices:<\/strong\n  ><br \/>\n  The region has hosted some of the biggest IPOs this year, and<br \/>\n  <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bdd8bf22-5ae2-4aa6-90d7-2eb0e664789d\"\n    >raised USD 4.8 bn during 1Q 2022<\/a\n  >, surpassing the European IPO market for only the second time since the<br \/>\n  global financial crisis.\n<\/p>\n<p>\n  <strong\n    >NewMed Energy is making progress developing Cyprus\u2019 Aphrodite gas<br \/>\n    field:<\/strong\n  ><br \/>\n  Israeli energy company NewMed Energy and its partners at the Aphrodite gas<br \/>\n  field have agreed to \u201cengage with a drill ship to drill the first production<br \/>\n  well,\u201d a step which the company called \u201csignificant\u201d in the development of the<br \/>\n  field,<br \/>\n  <a\n    href=\"https:\/\/www.reuters.com\/business\/energy\/israels-newmed-says-moving-forward-with-aphrodite-gas-field-cyprus-2022-05-23\/\"\n    >Reuters<\/a\n  ><br \/>\n  reported. The company did not disclose a timeline.\n<\/p>\n<p>\n  <strong>Why do we care?<\/strong> The Aphrodite field \u2014 estimated to hold up to<br \/>\n  4.5 tn cubic feet of natural gas \u2014 could be key to Egypt\u2019s ambitions to become<br \/>\n  a regional gas hub. Egypt and Cyprus are<br \/>\n  <a\n    href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/721b0df8-87fd-400e-af60-663496bde9e8\"\n    >planning to lay a pipeline<\/a\n  ><br \/>\n  linking the field to LNG facilities on Egypt\u2019s north coast, enabling it to<br \/>\n  export the gas to Europe and elsewhere. Flows from the field are expected to<br \/>\n  begin in<br \/>\n  <a\n    href=\"https:\/\/enterprise.press\/stories\/2019\/05\/05\/turkey-announces-natgas-drilling-off-cyprus-egypt-eu-caution-drillers\/\"\n    >2024 or 2025<\/a\n  >.\n<\/p>\n<div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets11\">\n            <use xlink:href=\"#e-TypeMarkets11\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">10,515<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">+0.5% (YTD: -12.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets11\">\n            <use xlink:href=\"#e-TypeMarkets11\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">Buy 18.35<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">Sell 18.43<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets11\">\n            <use xlink:href=\"#e-TypeMarkets11\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">Buy 18.38<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">Sell 18.44<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets\">\n            <use xlink:href=\"#e-TypeMarkets\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">11.25% deposit<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">12.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets1\">\n            <use xlink:href=\"#e-TypeMarkets1\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">12,236<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">-0.8% (YTD: +8.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets1\">\n            <use xlink:href=\"#e-TypeMarkets1\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>ADX<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">9,717<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">-2.2% (YTD: +14.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets1\">\n            <use xlink:href=\"#e-TypeMarkets1\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>DFM<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">3,307<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">-2.5% (YTD: +3.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets11\">\n            <use xlink:href=\"#e-TypeMarkets11\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">3,974<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">+1.9% (YTD: -16.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets11\">\n            <use xlink:href=\"#e-TypeMarkets11\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">7,513<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">+1.7% (YTD: +1.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets11\">\n            <use xlink:href=\"#e-TypeMarkets11\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">3,708<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">+1.4% (YTD: -13.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets11\">\n            <use xlink:href=\"#e-TypeMarkets11\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">USD 113.42<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets1\">\n            <use xlink:href=\"#e-TypeMarkets1\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">USD 8.70<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets11\">\n            <use xlink:href=\"#e-TypeMarkets11\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>Gold<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">USD 1,858.70<\/p>\n<\/td>\n<td  colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p>\n          <svg class=\"e-icon e-TypeMarkets1\">\n            <use xlink:href=\"#e-TypeMarkets1\"><\/use>\n          <\/svg>\n        <\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\"><strong>BTC<\/strong><\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">USD 29,318<\/p>\n<\/td>\n<td colspan=\"1\"\n      rowspan=\"1\"\n      style=\"\n        border-right-style: solid;\n        padding: 5pt 5pt 5pt 5pt;\n        border-bottom-border-top-width: 1pt;\n        border-right-width: 1pt;\n        border-left-border-right-border-left-width: 1pt;\n        border-top-style: solid;\n        border-left-style: solid;\n        border-bottom-width: 1pt;\n        width: 139.2pt;\n        border-top-border-bottom-style: solid;\n      \"><\/p>\n<p style=\"padding: 0; margin: 0; line-height: 1; text-align: left\">-2.5% (YTD: -36.4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p>\n  <strong>The EGX30 rose 0.5% at yesterday\u2019s close<\/strong> on turnover of EGP<br \/>\n  586 mn (31.4% below the 90-day average). Regional investors were net buyers.<br \/>\n  The index is down 12.0% YTD.\n<\/p>\n<p>\n  <strong>In the green: <\/strong>Madinet Nasr Housing (+2.7%), Mopco (+1.9%) and<br \/>\n  Housing and Development Bank (+1.9%).\n<\/p>\n<p>\n  <strong>In the red: <\/strong>GB Auto (-2.8%), Fawry (-2.3%) and Ezz Steel<br \/>\n  (-1.6%).\n<\/p>\n<p>\n  <strong>Most indexes in Asia are in the red this morning<\/strong>, following<br \/>\n  US stock futures which have quickly lost momentum following yesterday\u2019s rally.<br \/>\n  Shares in Europe are also on course to fall when markets open later this<br \/>\n  morning.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IPOs in the Gulf just won\u2019t stop: Abu Dhabi-based petrochemicals firm Borouge is set to raise some USD 2 bn in its upcoming IPO, after setting its share price at AED 2.45 (USD 0.67) a share. The company has already secured a total c.USD 570 mn worth of commitments from seven anchor investors including [&hellip;]<\/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":[1941,116,211,329,93,72,725,119,349,78,91,122,1942,328,219,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546669","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-borouge","tag-china","tag-cyprus","tag-didi","tag-energy","tag-enterpriseam","tag-european-central-bank","tag-financial-markets","tag-interest-rates","tag-ipo-watch","tag-oil-and-gas","tag-planet-finance","tag-rawabi-energy","tag-ride-hailing","tag-saudi-arabia","tag-uae","wpautop","entry"],"acf":{"mongo_id":"03ef781e-4be2-4890-89d0-f6acd69f58b1","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[546644],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>More IPOs are being lined up in the Gulf + a Cypriot gas field you should really care about - 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\/05\/24\/more-ipos-are-being-lined-up-in-the-gulf-a-cypriot-gas-field-you-should-really-care-about\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More IPOs are being lined up in the Gulf + a Cypriot gas field you should really care about\" \/>\n<meta property=\"og:description\" content=\"The IPOs in the Gulf just won\u2019t stop: Abu Dhabi-based petrochemicals firm Borouge is set to raise some USD 2 bn in its upcoming IPO, after setting its share price at AED 2.45 (USD 0.67) a share. 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Shares hit an intraday high of AED 3.04 from its AED 2.45 IPO price before falling\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","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":546669,"position":1},"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 &quot;PLANET FINANCE&quot;","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":611852,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/13\/the-gulf-ipo-boom-shows-no-signs-of-slowing\/","url_meta":{"origin":546669,"position":2},"title":"The Gulf IPO boom shows no signs of slowing","author":"enterpriseam admin","date":"13 December 2023","format":false,"excerpt":"Investors pile into Gulf IPOs: The IPOs of Saudi broadcaster MBC and Emiratihealthcare firm PureHealth have attracted a combined USD 86.5 bn in bids as investor demand for Gulf companies continues apace. #1- PureHealth prices shares in c. 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Companies listing in the region have raised a combined USD 4.8\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","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":555537,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/two-dubai-ipos-are-coming-down-the-pipeline-as-dfm-chases-gulf-rush\/","url_meta":{"origin":546669,"position":4},"title":"Two Dubai IPOs are coming down the pipeline as DFM chases Gulf rush","author":"enterpriseam admin","date":"17 November 2021","format":false,"excerpt":"Dubai is holding on to its promise list more state-owned companies with two more IPOs in the pipeline. 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