IPO Insight
MENA IPO
STRONG IN 2014
Building on solid momentum in 2013, EY experts expect listings to raise highest capital this year, since 2008.
M
ENA IPO activity is expected to remain on firm footing in 2014 following a strong uptick in listings in the last quarter of 2013, to close the year with a total of seven deals raising around $726.2 million, according to EY MENA IPO Update: Q4 2013.
Better market fundamentals are expected to support a solid start to 2014 for new offerings.
Phil Gandier, MENA Transaction Advisory Services Leader, EY, says: “The MENA IPO market is rebounding and recovering. The improving macro-economic backdrop driving up stock
EY Q4 MENA IPO Update Factsheet MENA IPO Update - Q4 2013 Q4-12
Q4-13
Q4-13 vs. Q4-12
2012
2013
2013 vs. 2012
3
7
133%
14
23
64%
Capital Raised (US $ mn)
$339.8 $726.2
Capital Raised (US $ bn)
$0.3
$0.7
114%
$1,972.0 $2,980.5
114%
$2.0
73%
51%
$3.0
51%
MENA IPO Activity (2008-13)
$91.6
$1,366.8
3
$226.1
4 2
$339.8
$726.2
Q4-08 Q4-09 Q4-10 Q4-11 Q4-12 Q4-13* Value of IPOs (US $ mn)
40 Feb-March 2014
8
6
4
3 $22.4
7
Volume (No. of IPOs)
0
Capital Raised (US $ bn)
10
8 5
$14
Volume
Capital Raised (US $mn)
MENA IPO Activity - Q4 (2008-13) $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0
of executives in MENA see the local economy improving according to EY’s Capital Confidence Barometer
54
60
$12
50
$10
40
$8
25
$6
18
$4 $2 $0
23 15
14
20
$13.2
$2.1
$2.7
$0.8
$2.0
$3.0
2008
2009
2010
2011
2012
2013*
Capital Raised (US $ bn)
30
Volume (No. of IPOs)
10 0
Volume
Volume (No. of IPOs)