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7/15/24, 3:34 PM GCC IPO Activity Dips To $3.6Bn In H1 2024 Despite Rise In Saudi Arabia

GCC IPO Activity Dips To $3.6Bn In H1 2024 Despite

Rise In Saudi Arabia

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7/14/2024 11:50:43 PM

(MENAFN- Daily News Egypt)

Kuwait financial Centre (Markaz) released a report on initial public offerings (IPOs) in the
Gulf Cooperation Council (GCC) markets, revealing a 32% year-on-year decline in total

proceeds for the first half (H1) of 2024. Issuers in the region raised $3.6bn through 23

offerings, compared to $5.3bn raised through 21 offerings in the same period of 2023.

Despite the overall decline, Saudi Arabia emerged as the leader in IPO activity during the first
half. The kingdom raised a total of $2.1bn from 19 offerings, representing a significant 141%
increase compared to H1 2023.

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