Wednesday 4 March 2015
 
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IPO

Orascom Construction offers 11pc of shares in IPO

Orascom Construction plans to offer 11 per cent of its shares on the Cairo bourse to raise E£1.41 billion ($185 million). The company is being spun off from Amsterdam-listed OCI NV, which will retain its fertiliser and chemi

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Mena IPOs raise $11.5bn, highest since 2008

Companies in the Middle East and North Africa (Mena) region have raised $11.5 billion last year, through 27 initial public offerings (IPOs), nearly four times more than the $3 billion in 2013, according to a report. The Ernst &

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Flynas aims for profit on lower costs, higher demand

Saudi Arabia's first and only budget airline, flynas, aims to turn profitable this year for the first time since it was launched in 2007, partly by cutting costs, its new chief executive said. The kingdom's air travel mark

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Malaysia fund calls off $2.4bn sukuk sale plan

Troubled state-owned investment fund 1Malaysia Development Bhd (1MDB) has called off plans to sell up to $2.4 billion of Islamic bonds, a report said. The Islamic bond or sukuk had been earmarked to raise funds for the constructio

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Massar postpones IPO, cites poor demand

Massar Solutions, a UAE vehicle rental and fleet management firm, on Tuesday said it is postponing its initial share offering on the Abu Dhabi bourse, citing poor demand due to market volatility. Massar will postpone the initial p

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Emaar targets Q2 for $270m Egypt unit float

Dubai's Emaar Properties will submit plans to float its Egyptian unit to the North African country's regulator "within days" ahead of an initial share sale earmarked for the second quarter, two sources aware of the matter told

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Emaar targets Q2 for $270m Egypt unit float

Dubai's Emaar Properties will submit plans to float its Egyptian unit to the North African country's regulator "within days" ahead of an initial share sale earmarked for the second quarter, two sources aware of the matter told

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Small oil firms hunt for cash as crude slump shuts IPO door

Slumping oil prices are shutting the door to stock market listings for small oil and gas firms, forcing many to tap more costly forms of financing or to shelve projects and wait for better times. Initial public offerings (IPOs) in

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UAE firms delaying IPO plans

Several companies in the United Arab Emirates have decided to hold off on initial public offers of shares because of the weakness of stock markets, the head of the securities regulator said on Wednesday. "There are some IPOs

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Massar plans 40pc stake sale, Abu Dhabi listing

UAE-based Massar Solutions, a market leader in fleet solutions, plans to sell 240 million shares in the company, amounting to 40 per cent of the share capital and to apply for listing of shares on Abu Dhabi Securities Exchange (ADX).

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