Latest news with #IPOs
Arab News
a day ago
- Business
- Arab News
Al-Ansar, Al-Kholood, and Al-Zulfi football clubs offered in first wave of Saudi IPOs
RIYADH: Saudi Arabia's Ministry of Sport has announced the privatization of three football clubs — Al-Ansar, Al-Kholood, and Al-Zulfi — marking the first set of teams offered to the public through initial public offerings. The move represents a significant milestone in the Kingdom's initiative to open the sports sector to private investment and ownership. The IPOs also follow a broader privatization program launched last August. The ownership of the three clubs will transfer to private entities: Al-Zulfi to Nujoum Al-Salam, Al-Kholood to Harburg Group, and Al-Ansar to a joint venture between Audat Al-Biladi and Ayana. The ministry, in cooperation with the National Center for Privatization, carried out the transfers after completing regulatory requirements and corporate restructuring, the authority stated. 'The National Center for Privatization carried out the necessary procedures to establish club companies and transfer their ownership to the new owners,' the statement said. In parallel, the ministry announced that the submission window for the acquisition of Al-Nahda Club has closed, although the evaluation process is still ongoing. Some investment entities requested an extension, and the ministry confirmed it is still reviewing these proposals. The body affirmed its commitment to ensuring the success of the privatization process, stating that 'it is keen to ensure the success of the privatization process and to confirm that the submitted offers serve the interests of the clubs and their sporting future, contribute to advanced models, and achieve the strategic objectives of the project.' It also noted that 'the other entities interested in acquiring clubs (notably Al-Orobah and Al-Washm) did not meet the required procedures and conditions for acquisition.' Furthermore, the ministry announced that applications are now open for those wishing to acquire other Saudi sports clubs. Interested parties can apply via the ministry's official website, where they will undergo a multi-stage process including qualification screening, financial analysis, and competitive bidding.
Zawya
3 days ago
- Business
- Zawya
UAE could see up to five IPOs before year-end, says Citi
The equity capital markets in the UAE could see as many as five listings before year-end, according to Citi. 'We expect three to five IPOs before year-end in the UAE if the regulatory approvals are granted on time and if the pre-marketing round is successful,' Rudy Saadi, Citi's Managing Director and Head of MENA Equity Capital Markets, told Zawya. 'Perhaps we are seeing less UAE privatisations, and there's an impression that the market is not that busy, however… we remain optimistic for the second half of 2025 and the first half of next year.' Potential IPOs lined up include Dubai-based classifieds company Dubizzle Group, which reportedly tapped banks last year, along with hospitality group Five Holdings. In March, reports of a potential listing by Alec, a construction firm backed by the Investment Corporation of Dubai, also gained momentum. Two potential IPOs are in focus in Abu Dhabi: The ADQ-backed $1 billion Etihad Airways float and the planned listing of IHC's holding company 2PointZero by year-end. Revised pipeline While the IPO pipeline remains on track, according to Saadi, some companies have more 'difficult business models' than others, resulting in valuations coming under scrutiny. 'The global emerging market funds and sector funds, including US investors, are always looking at the UAE and Saudi as these are the most active markets in the GCC. So, IPOs will still launch and price, but not at any valuation given the higher scrutiny,' he said. 'If an IPO is expected to launch after summer and it is delayed, it is not necessarily due to lack of investor demand, but rather due to delayed regulatory approvals or a shareholder decision to explore a different execution window.' Saadi dismissed that investors remained cautious in light of recent geopolitical headwinds in the region, oil price fluctuations, and a US-tariff fuelled trade war. 'Domestic markets are not jittery, the windows are open, and local investors have proven to be critical to de-risk IPOs ahead of launch,' he said, citing the success of the Dubai Residential REIT, which raised AED 2.14 billion ($584 million) from its IPO in May, which saw Citi as one of the joint global bookrunners. 'We also saw Flynas which was priced on the Saudi Exchange. This was followed by the FAB Accelerated Equity Offering,' he said, referring to the $480 million secondary share sale in June that saw Citi as the bookrunner for the deal. 'The market is busy, and the pipeline is healthy despite the macro and geopolitical challenges we saw in Q2-25.' Citi is currently advising on the rights issue of ACWA Power, as the Saudi utility giant plans to raise 7.12 billion riyals ($1.9 billion) this month by offering additional shares. A total of 25 IPOs were recorded during the first half of 2025, two more than last year at this time and the highest first half totals since 2008, according to LSEG Deals Intelligence data, which raised a combined $4.5 billion, indicating a 25% increase from last year. Low-cost airline Flynas raised $1.1 billion in its stock market debut in May, the largest IPO in the region so far this year. Saadi sees growing demand for unlisted sectors such as technology, fintech, utilities, education, and transportation in the UAE and Saudi Arabia. Market development More private, non-government related companies in the GCC should tap the market and there should be more follow-on offerings that can slowly increase liquidity and free float in the market, Saadi noted. Proceeds raised from follow-on offerings reached $3.1 billion during the first quarter of 2025, largely boosted by ADNOC Gas' $2.8 billion share sale in February. (Reporting by Bindu Rai, editing by Seban Scaria)
Bloomberg
4 days ago
- Business
- Bloomberg
Citi's Azevedo Sees Busy 2H for Gulf Listings
The UAE is seeing renewed momentum in equity capital markets heading into the second half of 2025. Planned deals are building on the successful debut of a residential real estate investment trust -- which helped revive sentiment after several disappointing listings late last year. Meanwhile, the picture is somewhat muted over in Saudi Arabia, as firms eyeing share sales face investor caution over valuations. Miguel Azevedo, Managing Director & Investment Banking Vice-Chair for Middle East & Africa at Citi spoke to Horizons Middle East and Africa anchor Joumanna Bercetche. (Source: Bloomberg)
South China Morning Post
5 days ago
- Business
- South China Morning Post
Shareholders of mainland Chinese firms look to Hong Kong for family offices: asset manager
Shareholders of mainland Chinese companies are showing increasing interest in setting up family offices in Hong Kong after their initial public offerings amid a swelling pipeline of new listings in the city, according to an asset manager overseeing up to US$2 billion in wealth. 'This week alone, I have met two clients inquiring about family office services and tonight I am meeting another – lots of overtime,' said Wang Fengyu, founder and chairman of Hong Kong-based Oakwise Capital, in an interview on Wednesday. With a US$100 million minimum threshold of entry for its multifamily office services, the firm – established in 2021 – served 10 clients, managing a total of US$1.5 billion to US$2 billion. Around 70 per cent of these clients were shareholders of Hong Kong-listed companies with market capitalisations of HK$5 billion (US$637 million) to HK$50 billion. Wang noted a rise in demand from such clients over the past year, a trend he expected to continue with a growing number of mainland companies lining up for share sales. The city's bourse has hosted 50 listings, raising a total of US$15.8 billion as of July 16. Of those, 44 firms hailed from the mainland, accounting for most of the funds raised, according to data provided by the London Stock Exchange Group. View of West Kowloon in Hong Kong. Photo: Jonathan Wong
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Business Standard
5 days ago
- Business
- Business Standard
IPO fundraising up 45% to Rs 45,350 cr in Jan-Jun despite global headwinds
Fundraising through initial public offerings (IPOs) rose to Rs 45,350 crore in the first half of 2025, marking a 45 per cent increase from a year ago, despite global trade headwinds, geopolitical conflicts, and macroeconomic concerns. However, the number of IPOs declined to 24 during the period under review from 36 in the January-June period of 2024, indicating a rise in the average size of public issues. Going forward, the IPO market is expected to remain cautiously optimistic in the second half of 2025, supported by robust inflows of domestic investment, positive investor sentiment, and strong growth visibility, experts said. According to data shared by merchant bankers, 24 companies mobilised Rs 45,351 crore in the January-June period of 2025, compared to Rs 31,281 crore raised by 36 firms during the same period last year. "The first half of the year saw market sentiment tempered by ongoing global trade tensions, geopolitical uncertainties, and macroeconomic challenges. Despite these concerns, companies successfully raised over Rs 45,000 crore via IPOs during this period," said Neha Agarwal, Managing Director and Head? Equity Capital Markets, JM Financial Institutional Securities. Adding to the momentum, the first half of 2025 also witnessed a sharp rise in draft IPO filings with the Securities and Exchange Board of India (Sebi). A total of 118 companies submitted preliminary papers, up from 52 in the corresponding period of 2024. JM Financial led the IPO league table, topping both volume and value charts with 10 issuances collectively raising Rs 26,838 crore in Q1FY26 alone, according to data from Prime Database. During the January-June 2025 period, 24 mainboard IPOs were launched, with 67 per cent of them listing at a premium. The overall performance of IPOs remained strong, delivering an average return of around 25 per cent to investors. Among the major IPOs launched during this period were HDB Financial Services (Rs 12,500 crore), Hexaware Technologies (Rs 8,750 crore), Schloss Bangalore (Rs 3,500 crore), and Ather Energy (Rs 2,981 crore). Most of these IPOs consisted of a mix of fresh equity issuance and offer for sale by existing shareholders. The proceeds were primarily used to fund business expansion plans, repay debt, and meet working capital requirements. A majority of the companies accessing the IPO route belonged to industrial sectors such as manufacturing and infrastructure, reflecting continued investor interest in core economy-driven businesses. Further, in July, at least four IPOs have been launched and at least five are in the pipeline, indicating sustained market activity. Looking ahead to the second half of 2025, the outlook remains cautiously optimistic, Ratiraj Tibrewal, CEO of Choice Capital Advisors, said. He noted that economic conditions are expected to improve in H2 compared to H1, due to easing global and domestic headwinds such as inflation, interest rates, geopolitical tensions, and currency volatility. Vinod Nair, Head of Research at Geojit Financial Services, added that this improvement could bode well for the stock market. However, he cautioned that premium valuations and a potential lack of foreign institutional and retail investor inflows could weigh on a year-on-year basis, considering the high base of Rs 1.3 trillion in H2CY24. He further noted that earnings upgrades in Q1FY26 and Q2FY26, along with progress on a trade deal with the US, will play a key role in shaping the IPO market trend in the latter half of the year.
