Another one for the Dubai IPO pipeline as it looks to capitalize on a regional boom in public listings: Shuaa Capital could debut two of its companies — Stanford Marine Group and NCM Investment — on the Dubai stock market by early next year, sources told Bloomberg. The financial group is in the process of hiring investment banks as bookrunners and is in talks with the bourse to list the companies, which have a combined value of USD 545 mn.

The emirate has been playing catch-up on an IPO boom taking place in Abu Dhabi and Riyadh: In recent weeks Acwa Power and Saudi Telecom have both gone public on the Tadawul, while Fertiglobe, Adnoc Drilling Company and Abu Dhabi Ports have all listed on the ADX. In response, Dubai is offering new financial incentives for companies to list on the DFM and announced plans to IPO 10 state-owned firms.

Cross-border lending into EU countries is about to become a lot more difficult, as Brussels plans to crack down on licensing arrangements that allow banks outside of the EU to sell services into the bloc, reports the Financial Times. The new measures would limit all cross-border activity to “reverse solicitation,” meaning that banks will have to wait for an EU client to approach them — without any marketing from the institution — before offering their services. The proposal comes as part of the European Commission’s capital requirements directive, which aims to streamline how global banks operate in the EU and remove discrepancies in what different national regulators in the bloc allow.

THE CLOSING BELL-

The EGX30 rose 0.8% at yesterday’s close on turnover of EGP 764 mn (47.4% below the 90-day average). Regional investors were net buyers. The index is up 4.7% YTD.

In the green: Rameda (+6.8%), EFG Hermes (+5.9%) and Pioneers Properties (+3.5%).

In the red: Fawry (-1.7%), Egypt Kuwait Holding-EGP (-0.8%) and Oriental Weavers (-0.6%).