deal value increased by 222.6 per cent to $2.82 billion in the second quarter (Q2) of 2019, up from $874.9 million in Q2 2018, according to the Mena IPO
Eye Report published by professional services firm EY.
Overall MENA IPO
deal value increased by 222.6 per cent to $2,822.5 million in the second quarter of 2019, up from $874.9 million in the same quarter last year.
'Prior to our launch of PSE EASy, LSIs who want to avail of IPO
shares had to go to designated IPO
kiosks in select Metro Manila malls to secure and fill up a subscription form, bring this form to their broker's offices for acknowledgment, and then bring the same back again to the kiosk to make the payment - a very cumbersome process for a LSI who could only invest then a maximum of P25,000 per IPO
,' PSE president and chief executive officer Ramon S.
CDC's Centralized eIPO System (CES) has become the premium choice of stock market investors as 2283 investors in the Interloop IPO
subscribed through this facility.
In the fourth quarter of 2018, the MENA region witnessed seven IPOs
, of which one was a REIT listing, for a total deal value of US$1,085.1m.
In the GCC, Saudi Arabia continued to provide leadership for primary markets in 2018, as the kingdom led in terms of the number of IPOs
and capital raised.
Using 1603 US IPOs
, Chua & Naseer (2016) also find that higher levels of insiders' sales due to liquidity need result in lower levels of underpricing and long-run returns.
of Cairo for Investment & Real Estate Development Company raised $69.7m.
Compared to the second quarter of 2017, both IPO
value and activity increase year-on-year by 42.8 per cent and 12.5 per cent, respectively.
However, its parallel market, NOMU, saw a decrease by 48 per cent in 2017 with no IPOs
in the third or fourth quarter last year.
The renewed interest for IPOs
in the region is in the wake of a record 2017 that witnessed 17 issues raising as much as $2.95 billion in capital.