May 10, 2010 – According to Ernst & Young, IPOs in the Middle East netted more than $420 million in the first quarter of 2010, up from $83.6 million in Q1 2009.

Six IPOs, five in Saudi Arabia and one in Qatar, were introduced in Q1, with Mazaya Qatar Real Estate Development Company netting the lion’s share of the capital by raising $144.21 million. Herfy Food Services also netted more than $100 million in investments — 4.6 times more than the offer size.

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