The announcement made by UAE’s Emaar Properties last week about a planned initial public offering for its arm Emaar Malls is expected to trigger more share offerings in the region, according to a report issued by International Financing Review, an affiliate of Thomson Reuters.
The report said that Emaar Malls IPO may generated nearly $1.44 billion proceeds, which will make it the biggest deal of its kind in the Middle East since 2007 when DP World IPO had generated $4.96 billion.
Lawmakers are supporting this deal and are keen on encouraging companies like Emaar Malls to enter the market, a banker said, adding that three or four similar IPOs are foreseen in the region before year-end.