Via Laura Gardner Cuesta in yahoo.com: A $1 billion stake sale in Saudi Arabia’s largest mobile phone operator is the latest sign that the market for follow-on equity offerings is picking up in the Middle East. Until recently, a three-year rush of initial public offerings in the Persian Gulf had yet to generate the surge in secondary share sales seen in other markets. But for the region’s sovereign wealth funds focused on raising cash to finance their economic transformation plans, follow-ons broaden their options for state-owned assets beyond the initial listing.
