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Economy, Infographic

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

GCC IPOs resilient to volatility hurting other markets

By TRENDS Desk
December 6, 2022 12:57 pm
  • IPOs in the Gulf prove resilient to the volatility hurting deals in other markets, such as high oil prices, stable economies, and abundant liquidity fuel activity.
  • Significant privatizations and private growth companies are now entering the IPO markets due to the recent surge of PO activity and frameworks introduced to enable SPAC formation.

Dubai, UAE — In the first five months of 2022 alone, and for the first time since the global financial crisis of 2009, various IPOs in the GCC raised $4.8 billion, a figure much higher than what IPOs in Europe could manage to mobilize.

Initial public offerings in the Gulf prove resilient to the volatility hurting deals in other markets, such as high oil prices, stable economies, and abundant liquidity fuel activity, according to May Nasrallah, Founder & Executive Chairman of deNovo Corporate Advisors.

Significant privatizations and private growth companies are now entering the IPO markets due to the recent surge of PO activity and frameworks introduced to enable SPAC formation and listing in the area.

Here are some of the top IPOs in the GCC region:

 

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