Page 98 - ALEF EDUCATION PR REPORT - AUGUST 2024

8/14/24, 11:59 AM MENA region sees 14 IPOs valued at $2.64bn in Q2 2024
Saudi Arabia continues to dominate the regional IPO landscape, raising a total of $1.6bn in

the quarter. The kingdom also leads in pipeline activity, with 14 companies expected to go
public by the end of 2024.

The UAE’s contribution to the quarter’s total proceeds was significant, while Kuwait’s return
to IPO activity marks a notable development in the region.

Global IPOs

Globally, IPO activity declined, with the number of IPOs dropping 15 per cent year-on-year
and proceeds falling 31 per cent to $27.8bn.

However, the EMEIA region showed a strong recovery, regaining the top global IPO market

share for the first time in 16 years.

Globally, in H1 2024, 551 listings were raising $52.2bn in capital, a 12 per cent decrease in

the number of IPOs and a 16 per cent drop in proceeds raised YOY. This result is mainly

due to a slowdown in Asia-Pacific IPO activity with the Americas and Europe, the Middle

East, India and Africa (EMEIA) seeing robust growth in H1.

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