2007 Middle East capital markets guide
2007 Middle East capital markets guide
“Stock markets are not a new phenomenon in the Middle East; indeed the Cairo Exchange was founded as long ago as 1903. The liquidity generated from increased oil prices and the fertility of investment opportunities have attracted both regional and international investors, and the region has seen exponential growth over the past few years.
Many new companies have been listed in recent years, or are seriously considering flotation in the near future. This is a result of large private businesses in the region reaching the point where they need international finance to enable them to continue to expand. This expansion paves the way for private businesses to join the continual globalisation of world trade.
Furthermore, the gradual acceptance of the need for greater transparency and improved corporate governance by many of these private businesses is helping develop the region’s stock markets.
Recent corrections of markets, coupled with the improving levels of liquidity in the Kingdom of Saudi Arabia and across the region more generally, have enhanced the potential for further growth. The combined capitalisation of all the markets in the region now stands at US$869bn.
Our first survey of the Middle Eastern capital markets is profiled on the following pages. The guide analyses the performance of the 14 markets in the region, giving an overview of their size, activity and admission requirements.”