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8/15/24, 2:43 PM MENA IPOs raise $2.64 billion in Q2 2024, led by Saudi Arabia - Finance Middle East

MENA IPOs raise Ü2.64 billion in Q2 2024, led

by Saudi Arabia
Saudi Arabia dominated the regional IPO activity, with 11 of the 14 IPOs in Q2 2024.

Credit: Pixabay
The MENA region witnessed 14 initial public offerings (IPOs) in the second quarter of 2024, raising $2.64 billion,
according to the EY MENA IPO Eye Q2 2024 report. This marks an increase from the 13 IPOs in the same quarter
of 2023, with proceeds up by 45.3%.

Dr Soliman Abdul Kader Fakeeh Hospital Co. led the quarter, raising $764 million with its listing on the Tadawul
main market, accounting for 29% of the overall IPO proceeds. Alef Education Consultancy followed with $515
million raised from its Abu Dhabi Securities Exchange listing.

Saudi Arabia dominated the regional IPO activity, with 11 of the 14 IPOs in Q2 2024. KSA raised a total of $1.6
billion, with the top three contributors being Dr Soliman Abdul Kader Fakeeh Hospital Co. ($764 million), Saudi
Manpower Solutions Company (SMASCO) ($240 million), and Rasan Information Technology Company ($224
million). The remaining six IPOs on the Nomu market raised a total of $85.4 million.

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