Saudi Arabia leads GCC’s IPO market last year, ranks 7th globally
Date
1/14/2025 2:08:46 AM
(MENAFN) Kamco Invest mentioned in its latest report that Saudi Arabia headed the Gulf Cooperation Council’s initial public offerings (IPO) market in 202, gaining an international ranking of 7th in overall IPO proceeds.
The Kingdom contributed to 42 of the 53 IPOs in the GCC in 2024, notably outstanding its local counterparts and being in line with estimates to keep its leadership in the coming year.
The increase in listings outlines the kingdom’s leading stance in the local capital markets and its part as a major booster of IPO activity through the GCC.
The number reflects a significant rise from 46 IPOs across the GCC in 2023, highlighting persistent investor interest and market vitality.
GCC issuers altogether collected USD12.9 billion last year, which marks a 19.8 percent surge from USD10.8 billion in the prior year, in spite of international IPO markets seeing their weakest results in 16 years.
In the GCC, Saudi companies contributed $4.1 billion, making up 31.6 percent of the total regional proceeds.
Although the UAE topped the list with $6.2 billion in proceeds, its share of total GCC IPO proceeds declined from 56.3 percent in 2023 to 47.8 percent in 2024.
Oman secured the third position, with state-backed privatizations generating $2.5 billion, or 19.3 percent of the total GCC proceeds.
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