Page 68 - ALEF EDUCATION PR REPORT - AUGUST 2024

Gulf IPOs raise 45% more in Q2 than last year

By Martyn Cornell, Chris Hamill-Stewart

August 13, 2024

Alamy

The UAE's two IPOs in Q2 2024 made up a third of the region’s overall proceeds

• Total surges to $2.64bn

• Saudi Arabia is main driver

• Kuwait has first IPO in five years
The money raised in IPOs in the Gulf region soared in the second quarter of the year, with 14 deals
worth a total of $2.64 billion struck in the healthcare, education and technology sectors.

The number of IPOs rose only slightly year on year, from 13 listings in the second quarter of 2023,
but proceeds for the quarter leapt by 45 percent compared with the previous year.

Saudi Arabia was the main driver. Its largest deal, a $764 million listing of the Dr Soliman Abdul
Kader Fakeeh Hospital Co on the Tadawul stock exchange made up 29 percent of overall IPO
proceeds for the region.

https://www.agbi.com/banking-finance/2024/08/gulf-ipos-raise-45-more-in-q2-than-last-year/