Saudi Arabia leads GCC IPO market in 2024 with USD4.1B raised

2025-01-19 08:30:20

(MENAFN) By generating USD4.1 billion from 42 listings in 2024—the most in the region—Saudi Arabia consolidated its position in the Gulf Cooperation Council's IPO market.

IPO proceeds in the GCC region increased by 23 percent from 2023 to USD13.2 billion across 53 public offerings, according to the most recent report from The Kuwait Financial Centre, better known as Markaz.

Compared to the USD10.7 billion collected through 46 listings the year before, this gain represents a significant increase.

The Kingdom was the second-largest donor after the UAE, with 31 percent of the region's total IPO revenues coming from the Kingdom. A total of USD3.8 billion was raised by 14 initial public offerings (IPOs) on the primary market of the Saudi Exchange, Tadawul. There were 28 IPOs on Nomu, the parallel market, which brought in USD297 million.

“Saudi Arabia’s IPOs, on both the main and parallel markets, recorded the highest performances post-listing compared to other GCC markets,” Markaz stated.

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