"Where did all the IPOs go?"

Good article from The National on the dearth of initial public offerings.

However, I think the appetite for IPOs could be somewhat better than indicated by the article, given that they are usually priced at par, rather than through a book-building exercise. In countries like Saudi Arabia people still have money, and know that IPOs are invariably underpriced. However, it looks like the article has focused only on the UAE, and there is more to the Gulf than that.