{"id":577461,"date":"2022-11-23T04:00:47","date_gmt":"2022-11-23T04:00:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/"},"modified":"2022-11-23T04:00:47","modified_gmt":"2022-11-23T04:00:47","slug":"citi-bullish-on-gulf-ipos-in-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/","title":{"rendered":"Citi bullish on Gulf IPOs in 2023"},"content":{"rendered":"

Citigroup has echoed Goldman Sachs\u2019 optimism for the Gulf IPO market<\/strong>, 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, HSBC, and EFG Hermes. (Bloomberg<\/a>)<\/p>\n

If you\u2019re hoping for a better 2023 for equities, don\u2019t: <\/strong>Goldman Sachs strategists are expecting stock market conditions to remain more or less the same through 2023, Bloomberg<\/a> wrote. Analysts are expecting the S&P 500 to gain just 0.9% on last week\u2019s close by the end of next year, while the Euro Stoxx 600 should do a little better, rising 4.0%.\u201dThe conditions that are typically consistent with an equity trough have not yet been reached,\u201d the strategists said, adding that we\u2019ll need to see interests rates peak and growth slow before we can bid goodbye to bear markets.<\/p>\n

Russia has threatened to totally sever gas links with Europe:<\/strong> State gas giant Gazprom warned it could reduce flows through Ukraine from 28 November yesterday, accusing Kyiv of siphoning gas supplies destined for Moldova, according to the Financial Times<\/a>. Moscow has cut off most of its shipments to Europe this year as part of a tit-for-tat sanctions war between the two powers that has left Europe facing an unprecedented energy crisis.<\/p>\n

AND- The European Union should agree this week to a <\/strong>cap on how much it will pay Russia for crude oil<\/a><\/strong>. <\/strong>The price cap is scheduled to go into effect on 5 December.<\/p>\n

\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

12,622<\/p>\n<\/td>\n

\n

+1.4% (YTD: +5.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 24.49<\/p>\n<\/td>\n

\n

Sell 24.58<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

Buy 24.50<\/p>\n<\/td>\n

\n

Sell 24.56<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

13.25% deposit<\/p>\n<\/td>\n

\n

14.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

10,965<\/p>\n<\/td>\n

\n

+0.3% (YTD: -2.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

10,393<\/p>\n<\/td>\n

\n

-0.1% (YTD: +22.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

3,330<\/p>\n<\/td>\n

\n

-0.3% (YTD: +4.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

4,004<\/p>\n<\/td>\n

\n

+1.4% (YTD: -16.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

7,453<\/p>\n<\/td>\n

\n

+1.0% (YTD: +0.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

3,930<\/p>\n<\/td>\n

\n

+0.5% (YTD: -8.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 88.42<\/p>\n<\/td>\n

\n

+1.1%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 6.90<\/p>\n<\/td>\n

\n

+1.9%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 1,755.70<\/p>\n<\/td>\n

\n

+0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n

USD 16,135<\/p>\n<\/td>\n

\n

+3.4% (YTD: -65.2%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

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

The EGX30 rose 1.4% at yesterday\u2019s close<\/strong> on turnover of EGP 1.79 bn (32.7% above the 90-day average). Local investors were net buyers. The index is up 5.6% YTD.<\/p>\n

In the green: <\/strong>Heliopolis Housing (+5.7%), Alexandria Containers and Cargo Handling (+4.8%) and Fawry (+4.5%).<\/p>\n

In the red: <\/strong>Ezz Steel (-3.3%), Elsewedy Electric (-2.4%) and Juhayna (-1.8%).<\/p>\n","protected":false},"excerpt":{"rendered":"

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, HSBC, and EFG Hermes. (Bloomberg) […]<\/p>\n","protected":false},"author":1,"featured_media":577462,"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":[102,72,297,119,78,91,122,270],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-capital-markets","tag-enterpriseam","tag-europe","tag-financial-markets","tag-ipo-watch","tag-oil-and-gas","tag-planet-finance","tag-russia","wpautop","entry"],"acf":{"mongo_id":"1de6dcea-305d-4270-8c78-26b1723c937d","is_powered_by":true,"section_story_id":"f197392b-5779-4010-b63d-d840ffb29a78","story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/362.jpg","photo_position":"above","related_issue":[577438],"teaser":"","voice_url":""},"yoast_head":"\nCiti bullish on Gulf IPOs in 2023 - 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\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citi bullish on Gulf IPOs in 2023\" \/>\n<meta property=\"og:description\" content=\"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, HSBC, and EFG Hermes. (Bloomberg) […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-23T04:00:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/362.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Citi bullish on Gulf IPOs in 2023\",\"datePublished\":\"2022-11-23T04:00:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/\"},\"wordCount\":361,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/362.jpg?fit=%2C&ssl=1\",\"keywords\":[\"capital markets\",\"EnterpriseAM\",\"Europe\",\"Financial Markets\",\"IPO watch\",\"oil and gas\",\"Planet Finance\",\"Russia\"],\"articleSection\":[\"PLANET FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/citi-bullish-on-gulf-ipos-in-2023\/\",\"name\":\"Citi bullish on Gulf IPOs in 2023 - 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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":[]},{"id":543449,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/the-uaes-days-as-a-corporate-tax-haven-are-coming-to-an-end-sort-of\/","url_meta":{"origin":577461,"position":1},"title":"The UAE\u2019s days as a corporate tax haven are coming to an end (sort of)","author":"enterpriseam admin","date":"1 February 2022","format":false,"excerpt":"Businesses are going to start paying tax in the UAE for the first time ever next year after the government yesterday announced it would introduce a federal corporate tax from 1 June, 2023.It\u2019s not going to be a lot, though: Businesses will pay a 9% tax on profits, one of\u2026","rel":"","context":"In "PLANET 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An AED 5 bn (USD 1.36 bn) pre-IPO fund launched in October has helped bolster the ADX\u2019s listing pipeline, Abu Dhabi\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":569581,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/01\/efg-hermes-jpmorgan-citi-goldman-compete-to-advise-on-arab-refining-ipo\/","url_meta":{"origin":577461,"position":3},"title":"EFG Hermes, JPMorgan, Citi, Goldman compete to advise on Arab Refining IPO","author":"enterpriseam admin","date":"1 March 2020","format":false,"excerpt":"IPO WATCH- EFG Hermes, JPMorgan, Citi, Goldman compete to advise on Arab Refining Co. IPO: Bulge bracket fixtures JPMorgan, Citigroup and Goldman Sachs are among those competing to advise Qalaa Holdings\u2019 Arab Refining Company (ARC) on its initial public offering, Bloomberg reports, citing a person familiar with the matter. EFG\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/6.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549671,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/26\/everyone-wants-a-piece-of-salik\/","url_meta":{"origin":577461,"position":4},"title":"Everyone wants a piece of Salik","author":"enterpriseam admin","date":"26 September 2022","format":false,"excerpt":"Salik IPO more than 49x oversubscribed: Dubai\u2019s toll gate operator pulled in over USD 50 bn of orders during the subscription period for its market debut, according to a statement (pdf) to the Dubai Financial Market. The company is offering a 24.9% stake (1.9 bn shares) at AED 2.00 (USD\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":542663,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/10\/oil-rallies-again-as-treasuries-tank-reddit-taps-goldman-jpm-for-ipo\/","url_meta":{"origin":577461,"position":5},"title":"Oil rallies again as treasuries tank + Reddit taps Goldman, JPM for IPO","author":"enterpriseam admin","date":"10 January 2022","format":false,"excerpt":"The oil market started the year with gusto: Prices surged past the USD 80 \/ barrel mark last week as the omicron variant did little to dent demand, Bloombergreports. Contrary to predictions of a burgeoning oversupply problem, supply constraints amid freezing weather in North America pushed a fresh rally in\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577461","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=577461"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577461\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577438"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577462"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577461"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577461"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}