Wall Street banks flock to the region to take advantage of the hot Gulf IPOs

The rapid pace of IPOs in the Gulf region has attracted the interest of major US banks.

Sources told Bloomberg that Citigroup and JPMorgan Chase have sent fund managers to take advantage of IPO opportunities and meet investors.

Bank Of America is also planning roadshows to meet with a group of companies that are planning or considering an initial public offering in the near term.

And “Bloomberg” reported that the two investment giants BlackRock and Fidelity also participated in the field investment rounds.

According to Bloomberg data, the Gulf states accounted for more than 70% of the $19.6 billion value of listings raised across Europe, the Middle East and Africa this year.