Reported 9 days ago
A recent $1 billion sale of a 2% stake in Saudi Telecom by the Public Investment Fund highlights a resurgence in secondary equity offerings in the Middle East, following significant share sales from companies like Saudi Aramco and Adnoc Drilling earlier this year. This trend indicates increasing activity in the region’s equity capital markets, helping sovereign wealth funds to diversify assets and raise funds for economic transformation plans, amidst rising interest in follow-on offerings and significant privatization initiatives by regional governments.
Source: YAHOO