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8/14/24, 12:03 PM MENA IPO activity booms, raising $2.64bn in Q2 2024 - Dailynewsegypt

MENA IPO activity booms, raising $2.64bn in Q2 2024

Daily News Egypt
Last updated: August 13, 2024 6:16 pm

MENA IPO activity booms, raising $2.64bn in Q2 2024

The Middle East and North Africa (MENA) region saw a continued surge in Initial Public O erings (IPOs)
during the second quarter of 2024, with 14 IPOs raising $2.64bn in proceeds, according to the EY MENA

IPO Eye Q2 2024 report.

This represents an increase from the 13 listings in Q2 2023, with proceeds growing by 45.3% compared
to the same period last year.

The Kingdom of Saudi Arabia (KSA) led the region’s IPO activity in Q2 2024, accounting for 11 out of the
14 listings and raising a total of $1.6bn. The highest proceeds came from Dr. Soliman Abdul Kader Fakeeh

Hospital Co. at $764m, followed by Saudi Manpower Solutions Company (SMASCO) at $240m and
Rasan Information Technology Company at $224m.

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