Page 41 - ALEF EDUCATION PR REPORT - AUGUST 2024

UAE IPOs raise $890 million in Q2 2024

Alef and Spinneys listings were the highlights of the quarter

Published: Wed 14 Aug 2024, 8:31 PM
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 $515 million and
Spinneys on the Dubai Financial Market (DFM) with $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.

https://www.khaleejtimes.com/business/uae-ipos-raise-890-million-in-q2-2024