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According to the EY MENA IPO Eye Q2 2024 report, there were 14 public offerings in the Middle East and North Africa region in the second quarter of this year (IPO), raising US$2.64 billion.

Compared with the 13 IPOs in the second quarter of 2023, the number of IPOs in the second quarter of this year increased, and the funds raised also increased by 45.3%.

In the second quarter of 2024, Dr Soliman Abdul Kader Fakeeh Hospital Co. was listed on Tadawul, raising the highest amount of funds in the quarter at US$764 million, accounting for 29% of the total funds raised.

It was followed by Abu Dhabi Securities Exchange (ADX)-listed Alef Education Consultancy, which raised $515 million, or 19.5% of the total.

EY MENABrad Watson, head of strategy and transactions, said: "Eleven of the companies listed were from Saudi Arabia... Positive factors such as rising oil prices, economic recovery and positive market sentiment have kept IPO activity in the region active, with listing plans also active in the second half of 2024."

This article is sourced from thenationalnews

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