The value of announced merger and acquisitions (M&A) transactions with a Middle East involvement reached $9.5 billion in the first quarter of 2015, less than half the value registered during the previous quarter, but 152 per cent higher than in the equivalent period of 2014, according to estimates by Thomson Reuters/Freeman Consulting.
Middle East investment banking fees reached $182 million in the first quarter, 5 per cent more than the value recorded during the previous quarter and a 20% increase from the same period of 2014.
Middle East equity and equity-related issuance totalled $2.5 billion in the first three months of 2015. This was 59 per cent lower than the value recorded during the previous quarter.
Middle East debt issuance reached $6.5 billion during the first quarter of 2015, 62 per cent more than the value raised during the previous quarter.
The UAE was the most active market and accounted for 78 per cent of activity, followed by Saudi Arabia with 16 per cent. International Islamic debt issuance declined 13 per cent year-on-year to reach $8.9 billion. HSBC took the top spot in the Middle East bond ranking during the first quarter of 2015 with a 13 per cent share of the market,Thomson Reuters MENA managing director Nadim Najjar said.