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7/15/24, 3:33 PM GCC IPOs raise USD 3.6 billion in H1 2024 – ARAB TIMES – KUWAIT NEWS

GCC IPOs raise USD 3.6 billion in

H1 2024

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Kuwait City, July 14: Kuwait Financial Centre “Markaz” released its research
report titled “Initial Public Offerings (IPO) in the GCC markets”, stating that

the region has raised total proceeds of USD 3.6 billion through 23 offerings
during the first six months of 2024, marking a year-on-year decline in value
by 32% compared to the first half of 2023, where issuers raised USD 5.3

billion through 21 offerings.

Geographical Allocation:

Markaz’s report stated that Saudi Arabia led the region in terms of IPO
proceeds during the first half, raising a total of USD 2.1 billion from 19
offerings constituting 59% of total GCC IPO proceeds. This represented an

increase of 141% in the value of Saudi IPOs compared to H1-2023. In the
UAE, IPO proceeds totaled USD 1.3 billion during the period with 3 offerings
constituting 37% of total GCC IPO proceeds. However, this marked a decline

of 67% in UAE proceeds compared to the same period of last year. In Kuwait,
IPO proceeds totaled USD 147 million during the period with 1 offering
constituting 4% of total GCC IPO proceeds.

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