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Saudi Fransi Capital, the top adviser for initial public offerings in the kingdom since 2012, expects the pace of share issuances in the Gulf's largest stock market to accelerate as equity valuations improve.The investment banking arm of Banque Saudi Fransi, a lender part-owned by Credit Agricole, has advised on 7 equity offerings worth 8.4 billion riyals ($2.4 billion) since 2011, surpassing global banks such as JP Morgan Chase & Co. and HSBC Holdings Plc on equity advisory work in the kingdom.Five Saudi Arabian companies offered shares last year, raising 793 million Saudi riyals, compared with 4.77 billion riyals of issuances in 2012, according to data compiled by Bloomberg.
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