Middle East
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The IPO of Terminal X Online Ltd, the Israeli fashion e-commerce company, is covered following less than a day of bookbuilding, according to a source close to the transaction. -
First Abu Dhabi Bank has sold its inaugural bond linked to the secured overnight financing rate (Sofr), becoming the first borrower in the United Arab Emirates to do so.
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Aydem Yenilenebilir Enerji, a Turkish renewable energy generation company, is seeking to sell a green bond in its debut international debt offering. It joins a string of Turkish corporates that have stepped into sustainable finance in the past few months to tap into a diverse investor base.
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ING has promoted Sebastian Frederiks to become head of wholesale banking for the Middle East.
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A bulging pipeline of business is livening up the UAE’s formerly sleepy equity capital markets, after a series of eye-catching transactions in recent weeks following the biggest IPO in the area for almost three years.
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Arabian Centres, the Saudi Arabia shopping centre operator, is set to tap its dollar sukuk. The recent drop in US rates, combined with the anticipation of rising rates later in the year, has provided impetus for emerging market issuers to enter markets.
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Terminal X Online Ltd, the Israeli fashion e-commerce company, is preparing to go public on the Tel Aviv Stock Exchange, having secured the backing of Danish online retail billionaire Anders Holch Povlsen.
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Qatar National Bank Group has opened a Hong Kong branch in a move to further expand its global presence.
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Banks wrapped up the $730m-equivalent IPO of Abu Dhabi satellite company Yahsat on Thursday with high levels of demand, particularly from local investors.
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Turkey was, yet again, at the fore of market participants’ minds on Tuesday. As inflation spikes, the country has indicated its intention to encourage more borrowing following a debt issuance spree in June.
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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.
