Expert: Saudi IPO market picking up

Expert: Saudi IPO market picking up
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Expert: Saudi IPO market picking up
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Updated 10 December 2012

Expert: Saudi IPO market picking up

Expert: Saudi IPO market picking up

The appetite for IPOs has become very attractive in the Kingdom, according to a Saudi investment banking expert.
This is proven by over subscriptions and the companies performing well after the share offering, says SEDCO Capital CEO Hasan S. AlJabri.
“The IPO market is currently picking up quite well, especially in comparison to 2011 with more than a 100 percent increase in the IPO size from SR 1.7 billion in 2011 to SR 4.9 billion in 2012,” he said.
“We have seen a number of excellent IPOs this year. And we have seen better liquidity in the market compared to last year. All of these lead to positive views on the stock market,” said AlJabri who has been a major player in investment banking and corporate finance in the Middle East and North African region for more than 27 years holding leading positions in two of the region’s most influential financial institutions — NCB Group and Samba.
Saudi banks are doing a good job in the field of Shariah-compliant financing and are creating more excitement in the world about the industry, added AlJabri.
“The virtue of Islamic finance is the creation of real value in the economy thus creating real growth and jobs,” he pointed out.