Page 177 - ALEF EDUCATION PR REPORT - JULY 2024

7/15/24, 3:33 PM GCC IPO activity dips to $3.6bn in H1 2024 despite rise in Saudi Arabia - Dailynewsegypt
The healthcare sector dominated the rst half with three o erings raising a combined $788m, or nearly
22% of the total proceeds. Dr. Soliman Fakeeh Hospital’s IPO, the largest in H1 2024, was a key

contributor, raising $764m.

The technology sector followed with $515m raised through the IPO of Alef Education, representing 14%

of the total. Other notable sectors included industrials, consumer staples, food and beverages, and
commercial & professional services.

The Saudi Arabian market (Tadawul) captured the lion’s share of IPO proceeds, accounting for 59% of

the total with $1.95bn listed on the Main Market and $143m on the Nomu-Parallel Market. Dubai
Financial Market (DFM) hosted o erings worth $805m (23% of the total), while Abu Dhabi Securities

Exchange (ADX) saw $515m raised (14%). Kuwait’s Boursa Kuwait contributed 4% to the total with
$147m.

Top Performers

Markaz’s report highlighted the top 5 GCC IPOs by proceeds in H1 2024:

1. Dr. Soliman Abdulkader Fakeeh Hospital Company ($764m)

2. Alef Education ($515m)

3. Parkin Company ($429m)

4. Spinneys Company ($375m)

5. Modern Mills Company ($314m)

https://www.dailynewsegypt.com/2024/07/14/gcc-ipo-activity-dips-to-3-6bn-in-h1-2024-despite-rise-in-saudi-arabia/ 2/2