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Emirates News Agency – UAE, Saudi Arabia to lead IPOs in MENA market: EFG Hermes

DUBAI, 6th March, 2023 (WAM) — The UAE and Saudi Arabia are expected to lead the Middle East and North Africa (MENA) initial public offering (IPO) market in 2023, EFG Hermes Holding has announced.

Karim Awad, Group CEO of EFG Hermes Holding, said during the 17th EFG Hermes One-on: “The IPO market in the MENA region performed strongly last year, led by the GCC countries, especially the UAE and Saudi Arabia.” – A conference in Dubai today brought together senior government officials, high-profile regional business leaders, investors and listed companies.

He said his team is working on five IPOs in different sectors in the GCC market, which will be launched between the second and fourth quarters of this year.

Themed ‘Overcoming the Challenge’, the conference featured thousands of one-on-one sessions between executives representing some of the region’s most attractive prospects and regional and global institutional investors, giving them insight into the frontiers impacting today. and key trends in emerging markets to explore value-added investment prospects.

This year’s conference, which runs until March 9, will feature direct meetings with 179 companies across a wide range of key industries in 29 countries and more than 561 institutional investors and fund managers representing 247 international institutions.

Karim Awad, Group CEO of EFG Hermes Holding, commented: “The conference continues to act as a growth catalyst for investment across the FEM capital markets, opening direct lines of communication between investors and the most promising listed companies. With decades of experience in these markets With our on-the-ground expertise, we provide investors with the tools, unique insights and unfettered access they need to maximize returns – maintaining our position as the financial enabler of business success.”

He said: “This year, the UAE is also gearing up to host COP28, which is the perfect time for companies to discuss how investors can play their part in the journey towards net zero emissions by embedding responsible investment practices and frameworks. .Their financial considerations are to ensure a better future, so that society, the economy and the planet are sustainable.”

“2022 is a year of macroeconomic turmoil as persistently high inflation, a challenging interest rate environment due to Fed rate hikes, and a spike in commodity prices due to the Russia-Ukraine crisis dampen global capital market activity and investor sentiment.

“Meanwhile, a slight reversal in the first quarter of 2023, with slower commodity price gains as alternative supplies emerge, and China reversing its economically strangling zero-COVID policy has prompted investors to pile in at a near-record pace Emerging market securities. The GCC in particular has shown resilience against global turmoil, driven by solid crude oil markets and government initiatives that have collectively deepened the region’s capital markets,” he noted.

Mohamed Ebeid, co-chief executive of investment bank EFG Hermes Holding, said: “Since the start of the year, the MSCI Emerging Markets Equity Index has been trading 20% ​​or more above last year’s lows as emerging economies look set to grow faster. Faster GDP growth in emerging markets is expected to outpace advanced economies by 1.4 percentage points this year.In recent months, the GCC has proven to be an important investment hub for regional and M&A deals, particularly in the UAE, have successfully capitalized on this transition. Looking ahead, we are confident that we will continue to expand our pipeline of equity, debt and M&A deals and unlock unparalleled prospects for our clients and investors.”

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