Page 175 - ALEF EDUCATION PR REPORT - JULY 2024
P. 175
7/15/24, 3:33 PM GCC IPOs raise $3.6bln in H1; Saudi markets spearhead growth
*Modern Mills Company - It raised a total of $314 million in proceeds through the sale of 24.5 million
shares, or 30% stake, and was covered 127 times. Modern Mills Company IPO constituted 9% of total
GCC IPO proceeds of H1 2024. The company was listed on Tawadul’s Main Market on the 27th of
March.
Accordiong to Markaz, Saudi Arabia market (Tadawul) recorded 59% of the total IPO proceeds with the
total value of $1.95 billion listed in its Main Market and $143 million in Nomu-Parallel Market.
Dubai Financial Market (DFM) hosted a total of $805 million constituting 23% of the total GCC IPO
proceeds, while Abu Dhabi Securities Exchange (ADX) saw a total of $515 million accounting for 14% of
the total proceeds during the period.
Kuwait accounted for 4% of the total GCC IPO proceeds with $147 million listed on Boursa Kuwait, it
added.-TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc.
(Syndigate.info).
RELATED TOPICS
EQUITIES SAUDI ARABIA GCC IPO
https://www.zawya.com/en/markets/equities/gcc-ipos-raise-36bln-in-h1-saudi-markets-spearhead-growth-wu2xjz5x 3/3
