September’s IPO window was not just open, it was wide open as several new IPO announcements were made and several ongoing IPOs came to a spectacular conclusion with oversubscription rates for two primary issues in the range of 15 times each. At close up, supply of $160 million worth of stock in the two issues faced demand above $2.3 billion. Impending primary issues confirmed in September included Kuwait’s Noor Telecommunications Holding Company which is offering a 49% stake to the public at a price of 110 Kuwaiti fils per share. The IPO is expected to be launched on October 7. Not far behind, the UAE’s Al Nahda International Education Company, which operates a large number of schools in Abu Dhabi, announced that it will offer 770 million shares or 38.5% stake to the public, at a share price of AED 1.02. The IPO is expected to launch in the fourth
