Sembcorp Salalah opens books as Gulf exchanges fall

By Andrew Griffin
28 Aug 2013

Sembcorp Salalah Power and Water Co. opened books on a fixed-price OMR53m ($137m) IPO on Wednesday, as investor concerns around potential US strikes on Syria dragged down share prices across Gulf exchanges.

The Dubai general index lost over 7% on Tuesday, when it became clear that the US may pursue strikes on Syria, and continued to fall on Wednesday, losing around 1.3%. The Saudi Arabian market performed similarly badly.

The sell-off was likely down to Gulf investors that have seen large gains over the last ...

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