MENA equity capital market activity surged to $15.3bln YTD

MENA equity capital market activity surged to $15.3bln YTD

MENA equity and equity-related issuance totalled $15.3 billion year-to-date (YTD) in 2022, the highest first nine-month total since 2008, Refinitiv data showed.

Proceeds raised by companies in the region increased 166% compared to the first nine months of 2021, while the number of issues increased 110%.

Initial public offerings accounted for 86% of activity during the first nine months of 2022, while follow-on issuance accounted for 14%.