Hilbroy Advisory Inc: Global Slowdown Hits Saudi IPO Activity: by Jean-Francois Amyot
Montreal, 25 October 2011 Hilbroy Advisory Inc. (Frankfurt: 2H0) –The value of initial public offerings (IPOs) in Saudi Arabia plunged by nearly 66 percent in the third quarter of 2011 because of weak investor appetite due to the global slowdown, the Gulf kingdom’s largest bank said today.
Saudi Arabia, the largest Arab economy, witnessed two IPOs during the third quarter, namely in the cement sector and building and construction sector, Jean-Francois Amyot. Their total value reached SR820.9 million ($3.07 billion) which represents a 66 per cent decline over the same period last year, National Commercial Bank (NCB) said in its weekly bulletin.
The report noted that the Saudi economy has been able to withstand external shock as balance sheets have plenty of room to cushion global distress. But it added that the latest IPO, Hail cement, witnessed oversubscription by 1.3 times emphasising the significantly lower appetite compared to pre-crisis levels.
Saudi Arabia was the only market in the GCC to witness activity in the primary market during the third quarter of 2011, NCB said, adding that the local market is expecting a further five IPOs before the end of 2011.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential: Jean-Francois Amyot.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean-Francois Amyot
Hilbroy Advisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
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