At least five Gulf-based companies, including one worth nearly US$1bn, are preparing stock market flotations for 2014, one of the most prominent IPO advisers in the Middle East told Arabian Business.
KPMG partner Vikas Papriwal said interest in initial public offerings (IPOs) had significantly picked up in the past six months and he was advising “four or five” companies who were on track to go public in 12-18 months.
One of the companies – based in the United Arab Emirates – was worth nearly US$1bn. Another was valued at more than US$500m, while the rest were smaller, Papriwal said.
“We had about two years where there was hardly any IPO work happening and in the last six months there’s been at least four or five different [companies] that we’re advising on,” Papriwal told Arabian Business.
Read more: http://www.arabianbusiness.com/gulf-firms-preparing-ipos-up--1bn-kpmg-490164.html
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