Page 43 - ALEF EDUCATION PR REPORT - AUGUST 2024

UAE IPOs raise $890 million in Q2 2024

UAE IPOs raise $890 million in Q2 2024

14 Aug 2024 16:58

ABU DHABI (WAM)

Initial public offerings (IPOs) in the UAE markets raised $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 $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 $763 million on the
Tadawul stock exchange, while this quarter witnessed the first IPO on the Boursa Kuwait in two

https://en.aletihad.ae/news/uae/4507054/uae-ipos-raise--890-million-in-q2-2024