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8/14/24, 11:59 AM Saudi and UAE lead MENA IPOs as 14 sales raise $2.6bn - Arabian Business: Latest News on the Middle East, Real Estate, Fina…
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The Kingdom also leads in the IPO pipeline activity, with 14 Saudi companies announcing
their intention to list by the end of the year.
The UAE’s Alef Education Consultancy, listed on the Abu Dhabi Securities Exchange, raised
$515m in the academic and education services sector with its IPO.
The listing of Spinneys 1961 Holding Plc, a family business, on the Dubai Financial Market
(DFM) raised $375m. Together, these two IPO listings in the UAE accounted for 33.8 per
cent of the quarter’s total proceeds.
Marking the first listing in Kuwait since Q4 2019, Beyout Investment Group (BIG) Holding
Co. raised $147m on the Kuwait Stock Exchange (KSE).
The remainder of 2024 is set to see robust activity in the IPO market, with an additional 16
private companies and seven funds across various sectors intending to list on the MENA
exchanges.
https://www.arabianbusiness.com/markets/equities/ipo/saudi-and-uae-lead-mena-ipos-as-14-sales-raise-2-6bn 3/5
