The initial public offering (IPO) activity in the Middle East rose significantly in the first quarter raising $420.5 million from six IPOs compared to $83.6 million in the same period last year, according to Ernst & Young.
The regional IPO market recorded a fivefold increase in the funds raised during the period from the six IPOs - five in Saudi and one in Qatar, the E&Y said in its 'Middle East Q1 2010 IPO Update.' Of these, three were in insurance/takaful sectors, it added.
The regional IPO market recorded a fivefold increase in the funds raised during the period from the six IPOs - five in Saudi and one in Qatar, the E&Y said in its 'Middle East Q1 2010 IPO Update.' Of these, three were in insurance/takaful sectors, it added.
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