Page 78 - ALEF EDUCATION PR REPORT - AUGUST 2024

Middle East sees surge with 14 IPOs raising

$2.64 billion, led by UAE, Saudi Arabia

• Tuesday, August 13, 2024 3:53 PM

• 2 minutes Reading

ABU DHABI, 13th August, 2024 (WAM) -- The IPO market in the Middle East and North Africa
(MENA) region remained resilient during the second quarter of this year, with 14 IPOs
registering total proceeds of US$2.64 billion, up 45.3 percent compared to the same period last
year.
According to the Ernst & Young report on IPO activity in the MENA region, the second quarter of
this year saw the listing of Dr. Soliman Abdul Kader Fakeeh Hospital Co on Saudi Arabia’s main
market, raising $764 million, 29 percent of the region’s IPO proceeds for the quarter, followed by
Abu Dhabi Securities Exchange’s (ADX) listing of Alef Education Consultancy LLC, which
contributed 19.5 percent or $515 million.

The UAE’s Alef Education Consultancy LLC and Spinneys 1961 Holding Plc accounted for 33.8
percent of the region’s total proceeds for the quarter.

https://www.wam.ae/en/article/b4njpue-middle-east-sees-surge-with-ipos-raising-264