Saudi Arabia
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The main comparable is Banque Saudi Fransi's sukuk from January -
Electricity firm paid little to no new issue premium
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The electricity firm is familiar to buyers, despite being a rare issuer
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The issuers are diverse and will not cannibalise demand, said one banker
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Demand for senior bonds very is high, said one investor
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A market wobble in October meant the telecoms company postponed issuance
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The trade is the most raised by an EM sovereign in one day in nearly four years
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Size so far unclear but could get close to last year's $10bn
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Huge demand for listings in the Middle East in stark contrast to the rest of the world
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The Middle East's IPO market is experiencing strong momentum as 2023 ends
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The Italian maker of luxury gym equipment rose over 7% in trading on Friday following the Saudi entry into the stock
