Page 42 - ALEF EDUCATION PR RPEORT JANUARY 2025

1/16/25, 4:22 PM UAE, Saudi markets eye fresh wave of blockbuster IPOs after record 2024 - Arabian Business: Latest News on the Middle East, Re…
included diverse sectors from healthcare leaders like Dr. Soliman Abdul Kader Fakeeh Hospital to
tech firms like WSM Digitalization & Transformation Company.

This dominance stems from strong government support, diverse sector representation, and robust
retail investor demand, according to Paul Turner, executive director at Naga.com Middle East.

“The Kingdom’s strategic focus on creating a favourable environment for public listings, coupled
with its stable economic indicators and positive investor sentiment, contributed to its dominant
position in the region’s IPO market,” Turner said.

The UAE market showed a notable cooling from 2022, when 11 IPOs generated $13 billion in
proceeds – more than double the combined total of 2023 and 2024. While Valecha suggests UAE

listings could again hit the $6 billion mark in 2025, Turner believes matching the 2022 performance
remains ambitious despite the promising pipeline.

Saudi Arabia’s higher number of listings was partly driven by its Nomu parallel market platform, which allows smaller
companies to list with reduced regulatory requirements. Image: Bloomberg

Digital transformation drives listings

A key trend emerging in both markets is the increasing appetite for technology and digital-first
businesses.

https://www.arabianbusiness.com/markets/equities/ipo/uae-saudi-markets-eye-fresh-wave-of-blockbuster-ipos-after-record-2024 3/6