The quality and depth of research on Middle Eastern companies has improved markedly over the past few years, based on improved financial reporting and better-regulated stock exchanges. But many smaller companies in the region remain unexamined by the investment community.
Arqaam Capital, an ambitious Dubai-based brokerage and investment bank, is hoping to change that by developing a research function in Beirut, the Lebanese capital. It says there are 306 companies based in the Middle East, north Africa and Turkey with a market capitalisation of more than $500m, most of which are operating under the radar.
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