Page 95 - AAE PR REPORT - August 2024

8/22/24, 1:14 PM The stock lure: IPOs and dividend payouts are magnets for yield-hungry investors in GCC | The National
Bourses in the other states of the six-member bloc of GCC have seen a similar rise in

listing activity as well as stronger investor interest.

Saudi Arabia's Tadawul, the biggest Arab bourse, which is home to companies like the

world's top oil producer Saudi Aramco and financial institutions including Saudi National
Bank and Al Rajhi Bank, led in the volume of IPO deals in the second quarter. Companies

in the kingdom raised an aggregate of $1.6 billion, or 61 per cent of the total IPO activity

recorded, during the period, according to the PwC report.

Lower valuations of listed companies, compared to some of their peers in other emerging

markets, in the UAE have also encouraged investors like Mr Khan to invest across sectors.

He is currently invested in stocks including Emaar and budget airline Air Arabia, with the

combined value of his portfolio of UAE stocks at Dh60,000 ($16,337).

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