RIYADH: According to an estimate, Saudi Arabia drove a 106 percent yearly increase in the first quarter of 2025 in the proceeds from initial public offerings in the Middle East and North Africa. According to the professional services networking firm EY’s most recent report, in the three months ending in March, the MENA area raised $2.1 billion through 14 initial public offerings (IPOs), representing a four-year increase.
Twelve of the fourteen listings during that time occurred in the Kingdom, with seven IPOs taking place on Nomu, the Saudi Arabian parallel market, and five on the Tadawul benchmark index. Strong economic reforms, efforts to diversify away from reliance on oil, and increased interest from domestic and foreign investors have all contributed to the Kingdom’s recent rise as a listing destination.
Saudi Arabia dominated the GCC IPO market in 2024, placing eighth globally in terms of overall IPO proceeds, according to a separate analysis published in January by Kamco Invest. Brad Watson, MENA EY-Parthenon leader, commented on the first quarter’s activities, saying: “This year got off to a good start. The overall IPO value more than doubled from the same time last year, demonstrating the MENA financial markets’ continued resilience.
In terms of both activity and earnings, Saudi Arabia is the market leader in the MENA area, he continued. Furthermore, the IPO pipeline is still strong for the remainder of the year in a number of industries and nations.
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