Page 89 - ALEF EDUCATION PR REPORT - AUGUST 2024

indices have started to recover since the end of Q2 2024, aided by a rebound in oil prices.

The aftermarket performance of Q2 2024 IPOs has been robust, with average gains of 43%.

Saudi Arabia dominated the IPO landscape in the region, accounting for 77 percent of the total
IPO proceeds, raising $1.6 billion.

Muhammad Hassan, PwC Middle East Capital Markets Leader, commented: "We have
witnessed some volatility in the first half of 2024 in the performance of GCC stock exchange
indices and oil prices. That said, the number of new IPOs in the GCC continued to remain
strong."

Sector-wise, the health industries led with $774 million, followed by consumer markets with
$533, then technology, media, and telecommunications ($515 million), industries, manufacturing
and automobile $407, energy, utilities, and resources ($148), and financial services ($256).

Overall, the GCC IPO market demonstrated resilience and recovery, with significant gains and a
diversified sectoral presence in Q2 2024.

https://en.aletihad.ae/news/business/4506872/gcc-ipo-activity-sees-uptick-in-q2-2024