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The number of initial public offerings (IPOs) in the GCC will increase in the next two years, Karim el-Solh, chief executive officer of UAE-based Gulf Capital, told the First Middle East IPO Summit in Dubai on 26 February. Some 116 IPOs are planned in 2006-08, up from 25 in 2005 and 12 in 2004. Managers have been assigned to 60 of the offerings, which will cover sectors that have seen few IPOs such as travel, tourism, mining, services, media and industry. ‘The liquidity is there to sustain upcoming offerings,’ El-Solh said. ‘Continued economic growth and the oil price will support them.’