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8/14/24, 12:00 PM Middle East sees surge with 14 IPOs raising $2.64 billion, led by UAE, Saudi Arabia – UAE Business and Travel Insights – TotalU…
Middle East sees surge with 14 IPOs raising
$2.64 billion, led by UAE, Saudi Arabia
BY CONTENT ADMIN
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.
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