Back to the complete issue
Thursday, 28 April 2016

Limited IPO activity in 1Q2016, EY says

The MENA region saw only two IPOs raising USD 615 mn in 1Q2016, “representing another quarter with limited IPO activity,” according to EY. “Q1 2016 witnessed limited IPO activity, in line with H2 2015, as volatility in the Mena capital markets continued, primarily driven by fluctuating oil prices and certain global factors. Egypt and Saudi continue to lead the limited IPO activity in the Mena region driven by investor demand and strong fundamentals. There is a strong pipeline of companies in Mena that are IPO ready and waiting for the right time to go to market,” EY’s MENA Transaction Leader said. EY’s MENA Strategic Growth Markets and IPO Leader added that “Egypt and Saudi Arabia continue to be the most active Mena exchanges in Q1 2016, continuing on from 2015, where IPOs in Saudi Arabia and Egypt represented eight out 14 IPOs executed in the year.” We would expect the firm’s “IPO Eye” to appear here on its website alongside the 3Q and 4Q2015 editions, but it had yet to be posted as of dispatch time.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.