MENA Q2 IPOs down 51.67%

29 Aug 2011

(MENAFN) Ernst & Young said that, concerning the second quarter Middle East and North Africa’s Initial Public Offering (IPO) Update, regional capital markets raised USD374.77 million in the second quarter of the current year down 51.67 percent from the USD775.40 million year-on-year, reported Emirates247.

The huge accountancy firm also said that a total of USD398.91 million has been raised in the regional capital markets in the first six months this year compared to USD1.203 million in the first half of 2010, a decline of 66.84 percent.

Ernst & Young reported that global IPO climb steadily, the Global IPO fundraising activity rose by 39 percent in the second quarter of the current year compared to the first quarter of 2011, and has increased by 38 percent compared to the second quarter of 2010.

Ernst & Young added that in the second quarter of 2011, 378 IPOs globally raised USD64.6 billion. Asian exchanges still dominated listings this quarter, with 163 IPOs raising USD27 billion, 42 percent of global capital raised, followed by European 27 percent, and North American exchanges 24 percent.

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