Middle East
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Turkish company’s IPO includes primary and secondary shares
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A cash-heavy Islamic investor base starved of supply — compared to what conventional buyers were served up — helped Middle East and North Africa sukuk issuers secure bigger order books, giving them more pricing power than regional peers issuing regular bonds, writes George Collard
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Sponsored by Emirates NBD CapitalIt has been a busy year for capital markets across the Middle East in general, and the six-nation Gulf Cooperation Council (GCC) in particular.
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The country’s retail investor base boomed this year, causing a slight return of foreign money as confidence gradually rose
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It is too early to tell if Turkey’s equity markets are truly healing
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Issuers to bring deals as early as possible in January, whether the sovereign issues or not
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Proceeds expected to flow back to polyester maker via a shareholder loan
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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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Organisations that have issued sukuk will keep doing so and others are ready to join the market
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Deputy CEO says others from Turkey are in the wings
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The Middle East's IPO market is experiencing strong momentum as 2023 ends
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The proceeds of the flotation will be used to pay off debt and fund sustainablity plans