Capital markets in the Gulf Cooperative Council (GCC) saw another below par performance in the first half of 2011, with the number of floats reducing by 50 per cent to four compared to the eight initial public offerings (IPOs) in the first half of 2010, tax and advisory consultancy PwC said on Thursday in a research note.
However, the agency noted that while last year, the regional IPO activity was dominated by Saudi Arabia’s Tadawul, the UAE bourses were the most active in the region accounting for three out of the four IPOs in the first half of 2011 and representing 74 per cent of the total capital raised.
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