GCC capital markets show signs of recovery amidst ongoing uncertainty

GCC capital markets show signs of recovery amidst ongoing uncertainty

Despite the headwinds brought on by the pandemic, GCC equity capital markets were able to sustain a reasonable level of activity with strong government support and significant stimulus measures globally. With the 'new normal', GCC IPOs have resumed albeit with limited activity. In contrast, the debt market has been highly active and we expect the debt market activity to continue in the near future.



2020 in Review









During the year, initiatives were taken in the Kingdom of Saudi Arabia and United Arab Emirates to facilitate equity capital market activities on their respective stock exchanges.

Tadawul launched its first Derivative Market in Q3 to gain access to a broader spectrum of local and international investors. Saudi Arabia's Capital Market Authority approved the direct listing of Saudi White Cement Company on the Nomu Parallel Market, enabling Tadawul to become the first GCC exchange to allow direct listings, i.e. listings of shares without an offering, with the advantage of less time, cost and effort for entrants. Nasdaq Dubai launched a Growth Market aimed at small and medium-sized companies. It has more relaxed requirements compared to the main board, providing more flexible options to raise capital through IPO. Nasdaq Dubai