Busy IPOs year for GCC countries ahead: Bank of America

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Gulf exchanges are likely to have another busy year of initial public offerings in 2022, possibly surpassing this year’s bumper crop, a Bank of America executive told Reuters.

After a year that featured three major IPOs on both Saudi Arabia’s Tadawul and Abu Dhabi’s ADX markets, Dubai has announced plans to list as many as 10 state-owned companies.

“We expect ADX and Tadawul to be very busy. The major difference in 2022 is that the Dubai financial market will be busy too,” said Christian Cabanne, Bank of America’s head of equity capital markets for Central and Eastern Europe, Middle East and Africa.

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