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Emaar Malls tops IPOs in GCC region – analysis

Emaar Malls tops IPOs in GCC region – analysis
FARM SUPERSTORES
4006
38.03% 27.55 7.59
MPHC
MPHC
0.00% 1.96 0.00
Marka
MARKA
2.23% 0.28 0.01

ALHAMMADI
4007
6.84% 60.90 3.90
Default Company
1820.B
0.00% 0.00 0.00
Al Batinah Power
BATP
-1.25% 0.08 -0.00
FARM SuperstoresThe GCC initial public offering market witnessed a remarkable boom in the first nine months of 2014.
After suffering from the absence of IPOs for a long time – nearly four years in Qatar and Bahrain, the GCC markets are set to witness 11 public subscriptions , three of which will be in the third quarter of this year. Thus, 2014 is likely to be the best year in terms of IPOs.
During the first nine months of 2014, 11 companies offered their shares in public subscription. However, Kuwait has not witnessed any IPOs during this period.
The value of IPOs executed in the region reached $3.27 billion, as 3.18 billion shares were floated in five markets – two companies in Dubai, one in Qatar, three in Muscat, four in Saudi Arabia and only one in Bahrain, according to Mubasher statistics.
The UAE took the lead in terms of offered shares and subscription proceeds. Emaar Malls dominated 61.4% of the total offered shares in the GCC and 47.2% of the subscription proceeds. Accordingly, the UAE captured 70.1% of the total number of shares floated in the GCC and 49.6% of the IPO proceeds.
Qatar came second, accounting for 10.2% and 27.7% of the total offered shares and subscription proceeds, respectively.
Saudi Arabia took the third rank, making up 2.3% and 16.3% of the total offered shares and subscription proceeds, successively.
Muscat accounted for 15.9% of the total offered shares and 5.6% of the proceeds.
Finally, Bahrain came last, dominating 1.5% of the offered shares and 0.7% of the proceeds.
Accordingly, the number of IPOs in the GCC region increased by 83%, as only six companies floated their shares in the first nine months of 2013.




(Written by Mohammed Abu Meleeh; Translated by Abdul Maguid Aboshahla )