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8/14/24, 11:55 AM MENA region IPO outlook ‘robust’ for remainder of 2024
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IPO
MENA region IPO outlook ‘robust’ for remainder of
2024
Saudi Arabia will continue to have the largest share of IPOs by deal volume, however the
UAE reaped 33.8% of regional proceeds with two out of the total 14 listings in the first
quarter, EY said
Staff Writer, ZAWYA
August 13, 2024
The MENA region saw 14 IPOs valued at $2.64 billion in the second quarter, with Saudi Arabia leading
the market with 11 offerings, followed by the UAE and Kuwait.
Key listings included Dr Soliman Abdul Kader Fakeeh Hospital Co on Saudi Arabia’s main market,
raising $764 million, 29% 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% or $515 million.
Kuwait also saw its first listing since 2019 with Beyout Investment Group (BIG Holding).
https://www.zawya.com/en/markets/equities/mena-region-ipo-outlook-robust-for-remainder-of-2024-hyabbp99 1/3
