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MENA IPOs decline 40% in Q2

MENA IPOs decline 40% in Q2
The region saw six IPOs in Q2-16 which collectively raised $397.2 million (Photo credit :Arabianeye - Reuters)

Abu Dhabi – Mubasher: Initial Public Offering (IPO) activity in the Middle East and North African region (MENA) fell in the second quarter of the fiscal year 2016 by 40% year-on-year and 81% quarter-on-quarter.

The region saw six IPOs in Q2-16 which collectively raised $397.2 million, according to a report by Ernst and Young (EY)

“Given the recent trends, Saudi Arabia and Egypt are the key MENA markets that are likely to see any IPO activity in MENA,” EY’s MENA Transaction Advisory Services Leader, Phil Gandier, said.