:eek: :eek: :eek: :eek: :eek: :eek:
someone is sitting with all that money, and he is going shopping.
Aabar Petroleum Investments, an Abu Dhabi start-up billing itself as the future oil and gas services giant in the Middle East, was looking to raise $135m from Gulf investors earlier this year. But when National Investor, a local financial institution, marketed Aabar’s initial public offering it was inundated with demand for the shares. By the time the issue closed demand had reached a staggering $110bn.
“It was a world record in IPOs – more than 800 times oversubscribed,” says Karim el-Solh, the chief executive of National Investor at the time. “You can’t go wrong investing in the oil sector, with oil prices where they are.”
