Middle East Equity

Edita, the Egyptian food maker and distributor, today started trading in Cairo, after completing a E£2bn ($263m) initial public offering that values the company at E£6.7bn ($878m).

OCI NV, the Amsterdam-listed Egyptian construction, fertilisers and chemicals group, has announced details of its plan to demerge its construction business, in a deal that could help revive Middle Eastern equity capital markets activity, which has been flagging this year since the collapse of the oil price.

European stockmarkets began the first full week of the year in pitiful shape. Shares plummeted on Monday, as political concerns surrounding Greece and the falling price of oil further spooked investors.

Palm Hills Development, the Egyptian property company, will convene a meeting of its board of directors on January 12 to discuss launching a rights issue.

Corporate CFOs who returned to work today with their minds on plans for IPOs and other equity capital raisings will be going home with furrowed brows.

Dubai Parks and Resorts closed the subscription period for the retail tranche of its $688m public offering on the Dubai Financial Market on Sunday, November 30.

Dubai Parks and Resorts, a subsidiary of Meraas Holding, on Thursday closed the subscription period for the institutional tranche of its $688m public offering on the Dubai Financial Market.

Dubai Parks and Resorts, a subsidiary of Meraas Holding, has received more than enough demand to complete the institutional tranche of its initial public offering, just three days after the deal was launched and a week before the deadline for commitments.

Dubai Parks and Resorts, a subsidiary of Meraas Holding, today began the bookbuilding phase of its planned IPO on the Dubai Financial Market.

Saudi Arabia’s National Commercial Bank on Sunday closed the offer period for its Sr22.5bn ($6bn) fixed price IPO, having attracted huge demand from its local retail market.

Saudi Arabia’s National Commercial Bank closed on Sunday the offer period for the sale of 300m of its shares, having attracted huge demand from its local market by offering a big discount.

Kuwaiti conglomerate Mezzan Holding launched an IPO on Monday.