Issuers surge market ahead of Saudi Arabia’s arrival
London Resort Company Holdings, a subsidiary of Kuwaiti European Holdings Company (KEHC), mandated private bank Kleinwort Benson to oversee £3.2bn-worth of equity and debt fundraising to go towards the construction of London Paramount Entertainment Resort (PER), a “flagship world class entertainment resort project”.
Like so many hyped events, the first day of liberalised trading on the Tadawul, Saudi Arabia’s Stock Exchange, was a little bit underwhelming. Many commentators expected foreign investors to be queuing up at the door, waiting for entry into a room full of blue chip shares from previously inaccessible multi-billion-dollar market-cap companies.
Turkey has seen a re-balancing of its political landscape. The economic consequences are more difficult to ascertain. Analysts at BNP Paribas Investment Partners, the asset management arm of the French bank, believe there is likely to be short-term volatility but the long term implications of these results are quite positive.