The Middle East and north Africa region have had no equity capital markets deals for over a month, according to latest data from Dealogic, although Abu Dhabi may be set to lead the region out of the drought with as many as 40 companies pledging initial public offerings to the Abu Dhabi Securities Exchange.

The last ECM deal in the region was a $92m (€71.1m) share offering on March 16 by Kuwait-based real estate company Abyaar Real Estate Development, on which Dubai-based bank Emirates NBD was the sole bookrunner.