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Middle East on ‘radar’ of global investors as it enjoys IPO boom

Frenzy of activity across the region contrasts sharply with Europe’s moribund market

©The Financial Times Limited 2020 Mar 28, 2023 / 11:43 AM IST
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Middle East on ‘radar’ of global investors as it enjoys IPO boom

The offers from Middle East contrasts sharply with Europe’s moribund market. (Representative image)

Simeon Kerr in Dubai and Nicholas Megaw in New York Shares in Presight AI, a data analytics company, soared on Monday, their first day of trading on the Abu Dhabi bourse after a $496mn initial public offering that was 136 times oversubscribed. The demand is no one-off. It comes two weeks after Adnoc Gas raised $2.5bn in the emirate’s biggest listing. They are among the latest in a fast-flowing pipeline of offerings in the Middle East that contrasts sharply with Europe’s...

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