10 May 2022
Global Corporations Eye Flourishing Middle East IPO, including BlackRock and Vanguard
The Index Today
The Middle East is continually prospering into a major financial hub with its latest IPO boom attracting prominent foreign investors including BlackRock Inc. and Vanguard Group.
According to Bloomberg News, the Dubai Electricity & Water Authority’s (DEWA) IPO drew in $6.1 billion the previous month, with BlackRock, Fidelity Investments, and Vanguard as some of its significant investors.
HSBC Holdings Plc.’s Head of Capital Markets for the Middle East, North Africa and Turkey, Samer Deghaili noted, “Over the past nine months, we have seen a steady increase in international investor interest in the region.”
This marks a significant change in the history of Middle Eastern businesses who have often had to offer public listings in places like the U.K. and U.S. to attract prominent foreign investors. However, the region’s flourishing markets and IPO booms are now yielding a slew of global funding to regional exchanges, reported Bloomberg News.
©Photo: Financial Times