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IPO
THIS MORNING: GFH eyes IPO of healthcare investment arm on Tadawul + World Liberty Financial investment under the microscope
Plus: Turkish president lands in Abu Dhabi today
Binghatti taps debt markets for USD 500 mn as it shelves IPO plan
The issuance was 4.4x oversubscribed
Emirates Global Aluminium taps investors ahead of IPO
The listing comes after EGA secured a partnership to build the US’ first smelter in…
THIS MORNING: World Economic Forum kicks off in Davos + President Mohamed bin Zayed Al Nahyan is in India
Plus: DWC and Informa Events’ JV could hit the DFM this year
M&A
New buyer emerges for the Telegraph
The acquisition scraps a prior GBP 500 mn arrangement that would have seen Daily Mail…
2PointZero Group acquires luxury packager
The acquisition follows hot on the heels of another takeover earlier this week
RedBird IMI makes a EUR 4.4 bn merger, Mubdala invests USD 50 mn in Hungary’s 4iG, 2PointZero Group acquires healthtech firm
RedBird IMI to merge France’s Banijay and UK’s All3Media Abu Dhabi-backed RedBird IMI agreed to…
THIS MORNING: Int’l players assess UAE operations amid strikes + Opec to raise production in April
Plus: The competition is heating up for India’s IDBI
Debt
THIS MORNING: JPMorgan trims Gulf growth forecast + Adnoc shelves dim sum issuance amid regional conflict
Plus: Expect a volatile market open tomorrow, pundits say
EGA locks in USD 5 bn refinancing ahead of its potential IPO
The facility will be used to roll over existing debt and open up balance…
Credit demand grew in 4Q as SMEs’ demand hits decade high
Business loan demand strengthened over the quarter, posting a net balance of +24.8 percentage…
Omniyat prices its USD 600 mn five-year sukuk
The Reg S offering drew USD 1.8 bn in orders at launch before closing…
Macro + Economy
S&P Global affirms UAE, Abu Dhabi sovereign credit ratings at AA/A-1+, but slashes growth forecasts due to fallout from the war
The agency now sees growth coming in at 2.2% this year, significantly down from an…
Developers will prioritize liquidity over significant expansions amid expected cooldown from the war
This comes after developers have been riding the property boom for the past five years…
A more nuanced look into the impact of the Strait of Hormuz’s closure on the GCC
Hormuz typically accounts for around 25% of global seaborne oil trade and some 20% of…
THIS MORNING: Attacks on energy infrastructure in the Gulf continue + Flights disrupted last night due to missile threat
Plus: Fitch sees Strait of Hormuz closure as posing a “limited” shock to oil prices