Stock Escalation
Gulf sees boom in IPOs as Spinneys soars on debut
Saudi Arabia’s Tadawul exchange has more than 10 companies waiting to go public and another 50 with pending applications
The headquarters of UAE supermarket chain Spinneys. (Photo: Spinneys)
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Initial stock offerings are proliferating across the Gulf. Spinneys supermarket chain is the latest UAE company to go public with its shares soaring as much as 11% on Thursday in its trading debut on the Dubai Financial Market.
Saudi...