Mid East IPO pipeline faces investor concern
A raft of family businesses are planning to list in the coming months in the Middle East, but they face competition for investor capital from state company IPOs and concerns about governance.
Discounts typically provided on initial public offerings of state enterprises in the Middle East and concerns about corporate governance are potential obstacles to growing issuance by private family businesses in the region, argued asset management executives.
Claus Nouveau-Nikolajsen, managing director for global markets at securities company ADS, said he had some 15 family-office clients in the United Arab Emirates considering a listing.
If the planned IPO of Dubai family-owne…
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