Dubai-based Al Masah Capital has announced plans to set up a fund of up to $250m to invest in increasing initial public offerings (IPOs) across the Middle East and North Africa region and South East Asia, Khaleej Times has reported. “We are going to launch an IPO fund based in Luxembourg to invest in key sectors in the region,” Shailesh Dash, chief executive of Al Masah Capital, told the daily on the sidelines of the fourth Annual Investor Forum. “The two-year closed-end fund will be operational by June this year,” said Dash. The Mena region witnessed a total of 17 IPO closings worth $836.6m in 2013, according to Mena Yearbook launched by Al Masah Capital at the forum.
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