Citi's Azevedo on SPACs in Middle East, Africa

The video discusses the growing interest in SPACs in the Middle East, the potential impact of the Archegos debacle on risk management, and the positive outlook for IPOs in the UAE and Saudi Arabia. It highlights the shift towards local market listings and the need for market diversification. The video also explores industry trends for 2021, with a focus on tech and fintech in Africa, and the effect of improved oil prices on sovereign issuances.

What is the current trend regarding SPACs in the Middle East?

• They are declining in popularity.

• There is a growing interest and more launches are expected.

• They are being banned by regulators.

• They are only popular in Europe.

How might the Archegos incident affect investor behavior?

• It may cause more questions and cautious behavior.

• It will have no impact on investors.

• It will lead to increased risk appetite.

• It will result in a complete market shutdown.

What is the outlook for IPOs in the UAE and Saudi Arabia this year?

• A significant number of IPOs are expected.

• IPOs will be limited to state-owned companies.

• IPOs will only occur in the tech sector.

• There will be no IPOs.

Why did Tristar choose to list locally instead of in London?

• London markets are closed to new listings.

• Tristar is not allowed to list in London.

• Local markets now have a strong pool of investors.

• Local regulations are more stringent.

What is a key strategy to address investor concerns about delistings?

• Limit the number of new listings.

• Increase government control over the market.

• Focus solely on domestic companies.

• Introduce more globally operating companies to the market.

Which sector is expected to be a key industry in Africa?

• Agriculture

• Traditional commodities

• Tech and fintech

• Real estate

How are improved oil prices expected to affect sovereign issuances?

• Issuances will continue but may be slightly reduced.

• Issuances will only occur in the tech sector.

• Issuances will increase significantly.

• Issuances will completely stop.