The value of initial public offerings (IPOs) in the US and Europe may have fallen by 90% in 2022, but new listings on Middle Eastern exchanges are having a sparkling year. The leading bank on these regional deals by almost any measure is HSBC.
Gulf Co-operation Council (GCC) equity markets are enjoying the perfect storm, according to Chris Laing, the bank’s London-based head of emerging markets equity capital markets (ECM). “The GCC economies are very strong,” he says. “After a number of years of austerity because of low oil prices, very high oil prices are now generating huge economic surpluses.”
