According to the EY MENA IPO Eye Q2 2024 report, IPO activity in the MENA region remained resilient with 14 IPOs raising US$2.64b in proceeds during the second quarter of this year. The number of IPOs increased from the 13 listings in Q2 2023, with a corresponding increase in proceeds of 45.3% against the comparative quarter.
During Q2 2024 Dr. Soliman Abdul Kader Fakeeh Hospital Co. was listed on the Tadawul main market, raising the highest proceeds of the quarter – US$764m – and contributing 29% of the overall IPO proceeds. This was followed by Alef Education Consultancy LLC with its listing on the Abu Dhabi Securities Exchange (ADX), which contributed 19.5% of proceeds with the US$515m raised.
