The Middle East IPO Boom May Have Reached Its Zenith
Signs are emerging that the still continuing IPO boom in the Gulf could be reaching its zenith. Lower oil and gas revenues as a result of falling Brent crude prices, headwinds for the global economy, high inflation in the U.S. and Eurozone, and ongoing central bank interest rates hikes are not only pressuring energy markets, but may also negatively impact proposed IPOs in hotspots Saudi Arabia and UAE. As mentioned last week following Aramco's impressive yet comparatively lower profits and revenues than those in Q1 2022, it is possible that…