Page 137 - ALEF EDUCATION PR REPORT - AUGUST 2024

8/14/24, 12:06 PM Middle East sees surge with 14 IPOs raising $2.64 billion, led by UAE, Saudi Arabia

Middle East sees surge with 14 IPOs raising $2.64 billion, led by

UAE, Saudi Arabia

WAM
13 Aug 2024, 21:53 GMT+10

ABU DHABI, 13th August, 2024 (WAM) -- The IPO market in the Middle East and North Africa (MENA) region remained res
quarter of this year, with 14 IPOs registering total proceeds of US$2.64 billion, up 45.3 percent compared to the same perio

According to the Ernst & Young report on IPO activity in the MENA region, the second quarter of this year saw the listing of
Fakeeh Hospital Co on Saudi Arabia's main market, raising $764 million, 29 percent of the region's IPO proceeds for the qu
Securities Exchange's (ADX) listing of Alef Education Consultancy LLC, which contributed 19.5 percent or $515 million.

The UAE's Alef Education Consultancy LLC and Spinneys 1961 Holding Plc accounted for 33.8 percent of the region's tota

Saudi IPOs raised $1.6 billion during the quarter, with Saudi Manpower Solutions Company (SMASCO) raising the kingdom
and Rasan Information Technology Company coming in third at $224 million.

Boursa Kuwait saw its first listing since the fourth quarter of 2019, with the listing of Beyout Investment Group (BIG Holding

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