The Middle East and North Africa's IPO activity expanded in 2005. Some $7.4 billion was raised through 35 IPOs in 2005, compared to $3.5 billion in 2004, say a more than 100 per cent jump, Gulf News reported.
UAE companies were the regional leader in 2005 raising almost $2 billion, closely followed by Saudi companies, which raised some $1.7 billion. Oman with $800 million was another Gulf country with significant IPO activity.
