Citigroup expects major investment opportunities from Saudi, UAE in 2019: exec

14/02/2019 Argaam

 

Citigroup expects the majority of investment banking opportunities in the Middle East to come from Saudi Arabia and the UAE in 2019, Reuters reported, quoting Miguel Azevedo, Citigroup's head of investment banking, Middle East and Africa.

 

"I can see real interest awareness and potential demand for Saudi exposure," Azevedo said on the sidelines of a conference in Abu Dhabi.

 

He said a number of companies in Saudi Arabia were working on initial public offerings (IPOs) and that he was optimistic on the level of demand for Saudi stocks.

 

“Citi expects business in the region to come from the chemical sector, as well as real estate, retail, diversified industrial companies, and banking,” Azevedo said.

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