Section
Capital Markets
IPOs, listings, bonds, sukuk, index and rating actions.
S&P keeps Romania at BBB- with a negative outlook in place for 20 months
Romania's finance ministry tables show all three major agencies rating the country at the lowest investment-grade notch, each on negative outlook.
Brief
Egypt licenses EGP 1 billion fund to buy equity in distressed factories
Banks including National Bank of Egypt and Banque Misr are contributing to a closed-end fund managed by CI Capital, with units offered from 4 October.
Analysis
Six Saudi IPO approvals expire with no prospectus
Of seven Main Market flotations cleared between November and March, one reached a prospectus, and new book-building rules take effect on 2 November.
Egypt's FRA approves 12 firms, including two custodians and a SPAC investor
The regulator also ordered non-bank lenders to file monthly data and reopened its platform until 29 October so firms can audit entries since January.
Romania lifts retail Fidelis coupons to 7.75 per cent as euro sales rise
October Fidelis subscriptions came to about RON 311.0 million and EUR 184.7 million, while Tezaur sales for 2026 reached RON 22 billion.
Analysis
DIP Holding's flotation leads a four-week calendar of six dated issues
Banque du Caire's final price is due on 26 October and ADIB's rights cut-off falls on 29 October, while seven more issues await dates.
Hungary's debt agency lifts 2026 net financing need to HUF 7,110 billion
Gross planned issuance rises to HUF 20,414 billion, 78 per cent of it completed by the end of September, and the year's euro bond issuance is finished.
J.P. Morgan puts Kazakhstan's local-currency bonds on GBI-EM watch list
The Index Watch Positive status announced on 7 October carries a preliminary index weight of 0.48 per cent and an assessment period of up to 12 months.
AIX posts record $562 million monthly turnover, 75 per cent in four lines
The exchange's third-quarter turnover figure of $1.9 billion does not match its monthly updates, which add up to about $832 million.
Foreign holdings of Turkish securities fall to $143.2 billion in four weeks
Most of the $10.2 billion drop came from lower valuations, CBRT data show, while net sales of domestic corporate and bank debt were $1.3 billion.
Warsaw exchange moves all trading to in-house WATS from NYSE-built UTP
Main Market turnover was PLN 1.9bn on the first session on 5 October, against a September daily average of PLN 2.7bn on the old platform.
Saudi regulator clears SAR 680 million rights issue for Almasane Alkobra
The CMA approved four equity capital increases in two weeks, including Retal's share issue for a 47.5 per cent Ajdan stake, and cleared new sukuk funds.
Kazakh issuers list 13.8 billion yuan of bonds, led by sovereign Panda deal
Yuan coupons ranged from 1.82 to 2.8 per cent, and the finance minister signals more borrowing from China next year.
Brief
Warsaw lists HANetf's 2x bitcoin notes, taking its exchange-traded products to 48
The two zloty-quoted notes carry a 2% annual fee; ETF and ETN turnover in Warsaw was PLN 531.8m in September, double a year earlier.
KASE equity value falls 4.4% in tenge in September but rises 1.1% in dollars
The KASE Index fell 4.01% as Kazatomprom and Kaspi.kz led declines, while a 5.5% fall in the official dollar rate lifted the dollar value of listed equity.
Dandy's Qatar IPO of a 40% stake at QAR 5.01 a share closes on 20 October
The dairy and food products company offers 41.2 million shares, implying a QAR 515m market value, ahead of a Qatar Stock Exchange listing; founders keep 60%.
Saudi regulator proposes tighter IPO book-building, underwriting and forecast rules
The CMA draft would bind underwriters from the start of book-building and tie orders to cash, with comments due by 22 October and rules effective from 2 November.
Turkish committee backs interim payments for investors in 131 liquidated funds
The Capital Markets Board ordered the funds of seven asset managers wound up on 17 September, affecting 455,758 investors; the bill needs a general assembly vote.
Analysis
Issuance Calendar: ADIB rights, Turkish Treasury auctions and a pipeline of bank capital
Four issues are dated for 19 October to 15 November and eight await dates; no main-market flotation in the footprint has a subscription window.
Kazakhstan Temir Zholy's $1bn Eurobonds to start trading on KASE on 19 October
The railway's 2031 and 2036 dollar notes, priced in April at yields of 5% and 5.375%, gain a local trading line as KTZ and its state owner prepare an IPO.
