The GCC is set to experience delays in initial public offerings especially during the last quarter of 2008 as governments have taken measures to stabilize market conditions around the region. Arab countries were following the leads of governments in developed economies, which had their hands full in trying to rein in financial markets that have spiraled out of control due to a global financial market crisis that started with the meltdown in US subprime mortgages. With nervousness sweeping the financial planet, GCC-based analysts say that local companies have adopted a strategy of ‘wait and see’ for now, bringing about the delay of several IPOs scheduled to be launched in October and late 2008. According to figures from Ernst & Young, the number of successful IPOs in the region had reached 36 with a value of $12.4 billion, compared with 63 worth $14.3 billion in 2007. Although market experts agree that
