BSF expects ‘big jump’ in Saudi IPOs in 2014

March 6, 2014 2:20 am

The investment banking unit of Banque Saudi Fransi has said the kingdom is likely to see a big jump in the number and value of initial share sales in 2014, as firms become keener to list and the regulator facilitates stock listings, Reuters has reported. The GCC’s largest stock market saw five initial public offers of shares in 2013, worth around $506m, down in both volume and value from the previous year despite a 25.5% rise by the Saudi benchmark stock index. “2014 is going to be a big year for equity capital markets,” Yasir Al-Rumayyan, chief executive of Saudi Fransi Capital (SFC), told the news service on the sidelines of a finance conference in the Bahraini capital, Manama.