IPOs decline 69.3% in Mena region, says report

Ernst & Young's year-end Mena IPO update stated that the regional capital markets have raised $843.9m in 2011, down 69.3% from $2.8bn in the previous year. It seems that the year has closed with IPO funds worth $226.1m raised in the fourth quarter, a decline of 83.5% from $1.4bn raised in the corresponding quarter a year earlier.