SHUAA Capital ranks 23rd in global equity offerings

The recent $4.96bn initial public offering of DP World on the Dubai International Financial Exchange (DIFX), has pushed SHUAA Capital, the region's leading investment banking institution, up 11 places to become the number 23 in equity offerings worldwide.

According to Bloomberg's global underwriter ranking, SHUAA Capital has managed four IPOs since January 2007 and now ranks in 23rd position out of a total of 518 investment banks.
Iyad Duwaji, SHUAA Capital's Chief Executive Officer, commented:
'SHUAA Capital's ranking among the world's leading financial institutions helps to demonstrate that we play a fundamental role in integrating the GCC into global financial markets. SHUAA Capital is at the center of one of the world's most exciting and dynamic financial markets with tremendous growth potential. The equity culture is evolving and the pace of change is fast. We thank all our clients and counterparties - foreign and domestic - for their continued trust in SHUAA Capital's investment banking capabilities.'

Salam Saadeh, Co-Head of Investment Banking at SHUAA Capital, said: 'Our long-standing track record combined with regional focus and our strong relationships with domestic and international investors are unparalleled in the GCC. We have had a fantastic year so far, recording 100% market share in the domestic IPO market. We have a very healthy IPO pipeline with several transactions in the making, and we believe that we can remain in pole position going forward.'

Makram Kubeisy, Co-Head of Investment Banking, added: 'So far this year, SHUAA Capital was Sole Lead-Manager and Bookrunner for the IPOs of Gulf Navigation AED910 million ($248m), Air Arabia Dhs2.6bn ($477m) and Deyaar Development Dhs3.2bn ($866m), and Joint Global Coordinator and Joint Bookrunner for DP World's Dhs18.2bn ($4.96bn) landmark IPO on DIFX. In total, SHUAA Capital managed over Dhs11.3bn ($3.05bn) and facilitated access to capital from high net worth individuals and institutional investors at home and abroad.'