Page 52 - ALEF EDUCATION PR REPORT - AUGUST 2024

8/15/24, 2:39 PM UAE IPOs Raise $890 Million in Q2 2024, Led by Alef Education and Spinneys
Across the GCC region, Saudi Arabia led IPO activity, raising $1.6 billion, accounting for

61% of the region's total IPO activity. Key IPOs in Saudi Arabia included Dr Soliman

Abdel Kader Fakeeh Hospital Company, which raised $763 million on the Tadawul stock

exchange. The quarter also marked the first IPO on Boursa Kuwait in two years, with

Beyout Investment Group Holding Company raising $147 million.

The report highlighted a diverse range of sectors participating in IPO activity during Q2

2024, including health industries, consumer markets, financial services, energy, utilities,

resources, industrials, manufacturing, and technology.

Additionally, the quarter saw a significant increase in Sukuk issuances, raising over $10

billion, compared to $2.6 billion during the same period last year, reflecting strong demand

for Sharia-compliant financial products.

News Source: Emirates News Agency

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