Page 167 - ALEF EDUCATION PR REPORT - JULY 2024

7/16/24, 4:20 PM GCC IPOs raised $3.6bn in H1; top 5 offerings revealed as Saudi and UAE lead markets - Arabian Business: Latest News on the M…

Dr. Soliman Abdulkader Fakeeh Hospital Company raised a total of $764m in proceeds, marking the

largest initial public offering in H1 2024. The company offered 49.8 million shares, or 21 per cent
stake, which was covered 119 times. The proceeds constituted 21 per cent of total GCC initial public

offering proceeds during the period. The company was listed on Tadawul’s Main Market on the June
5, 2024
Alef Education initial public offering raised a total of $515m in proceeds making it the second

largest offering in 2024. The company offered 1.4bn shares, or 20 per cent stake which was covered
39 times. The proceeds constituted 14 per cent of total GCC initial public offering proceeds during

the period. The company was listed on June 11 on ADX
Parkin Company IPO raised a total of $429m in proceeds. The company offered 750 million shares or
25 per cent stake. The proceeds constituted 12 per cent of total GCC IPO proceeds during the period

and was covered 165 times. The company was listed on DFM on March 21
Spinneys Company initial public offeringraised a total of $375m in proceeds. Spinneys Company

offered 900 million shares or 25 per cent stake and was covered 64 times. The proceeds constituted
11 per cent of total GCC initial public offering proceeds in H1 2024. The company was listed on DFM
on the May 9

Modern Mills Company raised a total of $314m in proceeds through the sale of 24.5 million shares,
or 30 per cent stake, and was covered 127 times. Modern Mills Company initial public offering

constituted 9 per cent of total GCC offerings proceeds of H1 2024. The company was listed on
Tawadul’s Main Market on March 27

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