Investment bankers in the Middle East and North Africa (MENA) were insulated from the collapse in deal-making that hit developed markets in 2022.
Equity capital markets bankers enjoyed their busiest first nine months of any year since 2008, with billion-dollar IPOs from the UAE and Saudi Arabia, such as the $6.1 billion offering for Dubai Electricity and Water Authority and the $1.36 billion debut for Nahdi Medical Co, in Saudi Arabia.
Earlier stage, private equity capital formation is harder to track, but this has been increasing too, with $2.5
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