The GCC’s plans to re-engineer family businesses and a serious push towards privatization have started what could be soon known as the “hottest IPO market in the world,” analysts say. The IPO market had raised well over $4 billion in the first quarter of 2008, compared to just $1 billion in the first quarter of 2007. Also in the first quarter, regional companies announced over $14 billion in IPOs; these figures come at a time when IPO markets in the more developed economies are experiencing a downturn. The number of IPOs in the U.S. dropped by 73% in Q1 2008 compared to Q1 2007. Only 12 firms floated shares in the same period on one of the top U.S. stock exchanges compared to 44 in Q1 2007. If the month of April is at all a telltale sign, the trend is expected to continue unabated and foreign interest in regional
