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Wall Street Organizes Field Trips to Red-Hot Gulf IPO Market

  • Citi, JPM among firms bringing investors to the Middle East
  • Gulf states account for most EMEA listing proceeds this year
Dubai City Skyline in Dense Fog
Photographer: Christopher Pike/Bloomberg

Top US banks, including Citigroup Inc. and JPMorgan Chase & Co., are whisking fund managers off to the Middle East’s booming IPO market to meet the flood of companies looking to go public, people familiar with the matter said.

Bank of America Corp. and others are also considering organizing so-called reverse roadshows for investors, according to the people. Investment giants BlackRock Inc. and Fidelity, as well as hedge funds, are among those to have either participated in the trips or made their own visits, they said.