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Mr. BOUSSETTA, how do you view the current economic situation?
An uncertain economic outlook, combined with rising interest rates through 2023 hampered GPs’ exit plans. Sellers attempted to hold onto valuations that buyers were not prepared to pay in a changed environment. At the same time, the initial public offerings (IPOs) were off the table for much of the year as public markets investors adopted a risk-off approach.
However, as 2024 continues, we are starting to see a more dovish tone from central banks with indications that interest rates peaked and should start falling, this is also combined with improving market sentiment. The IPO window started opening in September 2023 as chip maker ARM Holdings and grocery delivery business...
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