Saudi Arabia
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Gulf state hires HSBC and JP Morgan as sustainability structuring agents for financing framework -
The Saudi internet company will be valued at up to $4.8bn, according to the terms of the listing
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One of the hottest Saudi IPOs of the year has begun pre-deal investor education
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Saudi Telecom is spinning off its internet services division in what could be one of the biggest Saudi Arabian listings since Aramco's world record deal
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Saudi Arabia is expected to keep emerging market investors occupied in the second half of the year due to a burgeoning pipeline of IPOs, following strong performance of Saudi equities in 2021 so far.
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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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A brace of sukuk trades from the Gulf this week racked up enormous order books, demonstrating the voracious demand for Sharia-compliant paper. With a hungry investor base, sukuk issuance is expected to grow, despite some "teething problems".
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Saudi Aramco, the world’s largest oil company, entered the Sharia-compliant bond market for the first time on Wednesday, with what market participants called a tool for investor diversification. Proceeds from the capital raising are expected to fund Aramco's $75bn dividend.
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Saudi Arabia's Red Sea Development Company has raised a green loan, marking the second deal of its kind raised in the kingdom and the first in local currency. Funds will be used to support the development of the country's new tourist attraction, the Red Sea Project.
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Banks are training their Middle East efforts on Saudi Arabia, where they are hoping to capitalise on growing capital markets activity. The result is a slug-fest for the best banking talent, but firms must learn the lessons of the past, writes David Rothnie.
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Professional services firm Alvarez & Marsal has hired a seasoned advisor to bolster its Middle East advisory team, as it seeks to be an integral part of the region's diversification transformation.
