ME’s 2011 H1 equity issues up 81%
14 Jul 2011
(MENAFN) Thomson Reuters’ managing director for Middle East and Africa, Russell Haworth, said that in 2011’s first half, the Middle East equity capital markets (ECM) grew 81 percent to USD8.3 billion from USD4.6 billion in the same period a year ago, reported Arab News.
Haworth added that although the year was very tough on the performance of investment banks all over the region, signs of confidence in the market started to appear in spite of the Arab Spring.
He also said that investment banking fees in the region dropped 46 percent in this year’s first half reaching USD197 million from USD367.8 million in the same period in 2010, whereas mergers and acquisitions (M&A) fees reached USD74.1 million in the period, accounting for 39 percent of the overall fee pool.
It is worth noting that the Thomson Reuters first half 2011 investment banking analysis for the Middle East region, examines the performance of the Middle East investment banking industry in the region’s debt and equity capital markets, both conventional and Islamic.