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[size=36]The Middle East is a "bright spot" in the global IPO market[/size]
Economy| 03:59 - 03/31/2023
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Follow-up - Mawazine News
A banking crisis and fears of a recession dampened expectations for initial public offerings this year, prompting companies to slow down their plans to offer their shares, in what is likely to lead to a decline in fees collected by investment banks.
Despite the recovery in the ability to raise financing and the increase in trading in huge numbers of shares, the volumes of public offerings since the beginning of the year to date came at the lowest level since 2019. According to the Dealogic platform, offerings in stock markets around the world have witnessed the collection of nearly $ 26 billion so far. .
The poor performance of some IPOs that have already taken place, including German web hosting provider Eunos, as well as the sell-off sparked by the Silicon Valley stock market crash, have prompted many companies to shelve plans to go public.
However, capital markets advisors are optimistic of a recovery in listing activity in the latter part of the year.
According to IPO experts, companies operating in the field of energy transition represent a bright spot as they are expected to remain able to attract investors.
The Middle East region represented another bright spot, after it witnessed the listing of many well-known names, including Abraaj Energy Services of Oman and ADNOC Gas of the United Arab Emirates.
Chris Laing, who oversees capital markets activities in Central and Eastern Europe and Africa and the Middle East at HSBC, told Reuters, “The Gulf region has so far enjoyed immunity from the tensions that afflicted European markets, so we expect to continue Seeing IPOs from countries like Saudi Arabia and the UAE.”
Initial public offering volumes in the United States jumped more than 50% from the fourth quarter of 2022, but remained 11% below their levels in the same period a year earlier.
In Europe, investment experts suggested that market fluctuations stimulated by the banking crisis would affect the attractiveness of offering programs.
Andreas Bernstorff, head of capital markets for Europe, the Middle East and Africa at BNP Paribas, said, "What happened with the banks exacerbated the volatility in the stock markets. The enthusiasm has cooled again, but there will still be subscriptions before the summer. It depends a lot on the individual-owned companies." .
While equities sales in the Asia-Pacific region saw a 19 percent drop in volumes, the region still accounts for about half of global capital markets activity, including the sale of an almost $9 billion stake in Japan Post Bank.
A banking crisis and fears of a recession dampened expectations for initial public offerings this year, prompting companies to slow down their plans to offer their shares, in what is likely to lead to a decline in fees collected by investment banks.
Despite the recovery in the ability to raise financing and the increase in trading in huge numbers of shares, the volumes of public offerings since the beginning of the year to date came at the lowest level since 2019. According to the Dealogic platform, offerings in stock markets around the world have witnessed the collection of nearly $ 26 billion so far. .
The poor performance of some IPOs that have already taken place, including German web hosting provider Eunos, as well as the sell-off sparked by the Silicon Valley stock market crash, have prompted many companies to shelve plans to go public.
However, capital markets advisors are optimistic of a recovery in listing activity in the latter part of the year.
According to IPO experts, companies operating in the field of energy transition represent a bright spot as they are expected to remain able to attract investors.
The Middle East region represented another bright spot, after it witnessed the listing of many well-known names, including Abraaj Energy Services of Oman and ADNOC Gas of the United Arab Emirates.
Chris Laing, who oversees capital markets activities in Central and Eastern Europe and Africa and the Middle East at HSBC, told Reuters, “The Gulf region has so far enjoyed immunity from the tensions that afflicted European markets, so we expect to continue Seeing IPOs from countries like Saudi Arabia and the UAE.”
Initial public offering volumes in the United States jumped more than 50% from the fourth quarter of 2022, but remained 11% below their levels in the same period a year earlier.
In Europe, investment experts suggested that market fluctuations stimulated by the banking crisis would affect the attractiveness of offering programs.
Andreas Bernstorff, head of capital markets for Europe, the Middle East and Africa at BNP Paribas, said, "What happened with the banks exacerbated the volatility in the stock markets. The enthusiasm has cooled again, but there will still be subscriptions before the summer. It depends a lot on the individual-owned companies." .
While equities sales in the Asia-Pacific region saw a 19 percent drop in volumes, the region still accounts for about half of global capital markets activity, including the sale of an almost $9 billion stake in Japan Post Bank.
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