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9/18/24, 2:45 PM Gulf Investors Turn Picky After Share Deal Rush, EFG Hermes Says
Gulf Investors Turn Picky After Share Deal Rush, EFG Hermes Says

Pablo Mayo Cerqueiro
Tue, September 17, 2024 at 6:56 p.m. GMT+4 · 2 min read

(Bloomberg) -- Investors in the Middle East’s equity capital markets are getting more choosy about where they
deploy their cash after a deluge of deals, according to the region’s top-ranked bank for equity offerings.

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“Liquidity for Middle Eastern deals is shrinking a bit given the amount of ECM transactions in the region,” said
Mohamed Ebeid, co-chief executive officer of EFG Hermes. “There continues to be decent demand for ECM

deals, but investors will become a little bit more selective.”
Bourses in Gulf Cooperation Council countries have seen 31 deals worth a combined $18.2 billion priced this
year, exceeding the almost $11 billion for all of 2023, according to data compiled by Bloomberg. Still, the
relentless flow of deals, including a $12.3 billion placement of Saudi Aramco shares in June, has given way to
more measured activity.

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