The Middle East on AIM

Companies from the Middle East and North Africa have raised a total of £1.37 billion in AIM initial public offerings (IPOs), according to a report from Growth Company Investor, a sister title of GrowthBusiness.

Of the 94 IPOs, the three biggest were all for investment funds seeking to capitalise on emerging market growth. Turkish real estate-focused The Ottoman Fund raised £150 million in 2005, while Tau Capital, which is primarily focused on Kazakhstan, brought in £125.5 million through its flotation last year. The third largest float was that of Epicure Qatar Equity Opportunities, with £83.7 million raised.

Almost a quarter (23 per cent) of the companies featured in the report are mining businesses, with about a fifth (21 per cent) from the oil and gas industry.

The remaining companies cover a diverse range of sectors, from support services (eight per cent) to media (seven per cent).

Canaccord Adams is the leading AIM broker for the region, raising £145.7 million for nine of the companies in the report.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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