Traders work at the Egyptian stock exchange in Cairo, May 28, 2015.REUTERS/Mohamed Abd El Ghany
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Initial public offerings on Middle Eastern stock exchanges are set to pick up in the rest of the year and into 2016 as oil prices stabilize and market reforms encourage more companies to sell shares, according to Ernst & Young.Companies held 11 IPOs the MENA region in the first half of 2015, raising more than $2.4 billion, a report by EY published Tuesday shows.As a result, the UAE market regulator advised "many" companies to delay IPOs this year, Chief Executive Officer Abdullah al-Turaifi said in January.Of the 11 IPOs in the first half of the year, five were by Egyptian companies and three were in Saudi Arabia, according to the EY report.
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