Page 39 - ALEF EDUCATION PR REPORT - AUGUST 2024

UAE IPOs raise $890 million in Q2 2024

• Wednesday, August 14, 2024 4:47 PM

• 2 minutes Reading

ABU DHABI, 14th August (WAM) -- Initial public offerings (IPOs) in the UAE markets raised
US$890 million in the second quarter (Q2) of this year, according to a recent economic report.

The PwC Middle East’s latest IPO+ Watch said that notable IPOs in the second quarter included
Alef Education on the Abu Dhabi Securities Exchange (ADX) with US$515 million and Spinneys
on the Dubai Financial Market (DFM) with US$375 million, two of the largest IPOs in the UAE.

Saudi Arabia led IPO activity in the GCC region, raising US$1.6 billion or 61 percent of the total
IPO activity recorded in the region in Q2 2024.
According to the report, notable IPOs on the Saudi stock market during the quarter included the
IPO of Dr. Soliman Abdel Kader Fakeeh Hospital Company, which raised US$763 million on the
Tadawul stock exchange, while this quarter witnessed the first IPO on the Boursa Kuwait in two
years, in which Beyout Investment Group Holding Company raised US$147 million.
The report shows that IPO activity was seen across a diverse range of sectors this quarter,
including Health Industries (US$774 m), Consumer Markets (US$530 m), Financial Services

https://www.wam.ae/en/article/b4o55j7-uae-ipos-raise-890-million-2024