GCC
-
Qatar National Bank Group has opened a Hong Kong branch in a move to further expand its global presence. -
Banks wrapped up the $730m-equivalent IPO of Abu Dhabi satellite company Yahsat on Thursday with high levels of demand, particularly from local investors.
-
-
The IPO of Al Yah Satellite Communications Co, the Abu Dhabi satellite company, is covered throughout the initial price range, on a 30% deal size, according to sources close to the deal.
-
The Emirate of Sharjah is returning to the international bond market just months after its last visit, but this time marketing a sukuk that will place it among the ranks of major emerging market issuers — both sovereign and corporate — to have raised cash at competitive levels recently with the Sharia-compliant instrument.
-
Emaar Properties, the UAE-based luxury real estate developer, was planning to sell a dollar sukuk on Tuesday. It followed a string of emerging market Sharia-compliant trades in recent weeks that have been absorbed by a hungry investor base.
-
The IPO of Yahsat, the Abu Dhabi satellite company, will be the largest flotation in the United Arab Emirates for almost four years, according to terms published on Sunday.
-
State-owned Qatar Petroleum was in the bond market on Monday with a multi-tranche bond that included a Formosa issue. Investors, meanwhile, say they expect the sovereign — one of the only Gulf states to have been absent from markets so far this year — to sell bonds imminently.
-
Yahsat, the satellite company owned by Mubadala, will attempt a listing on the Abu Dhabi Securities Market (ADX). The company is seeking to list at a time when the European IPO market is difficult, but there is hope that strong local interest and emerging market equity investors will see the deal across the line.
-
An undisclosed shareholder has sold Dh1.1bn ($296m) of stock in Abu Dhabi Commercial Bank, one of the UAE’s biggest banking groups, through an accelerated bookbuild.
-
The Omani lender Bank Dhofar has secured a loan facility from a consortium of international banks, in a deal led by two regional lenders.
-
