Kuwait Business: GCC records highest number of IPOs in 2022: Markaz – Gulf Digital News

Kuwait Business: GCC records highest number of IPOs in 2022: Markaz – Gulf Digital News

GCC markets, over the past seven years, witnessed the highest number of companies going public in the year 2022 with 27 IPOs raising a total of $14.5 billion, said Kuwait Financial Centre (Markaz) in a new report.

Markaz’s “GCC Equity primary Offerings” overview it reported that GCC witnessed a total of 90 initial public offerings (IPO) in the period from 2016 – August 2022, with a total offering amount of $55.9 billion as of August 31, 2022.

Whereas the year 2019 witnessed the highest value for IPO offerings with total of $27.3 billion, out of which Saudi Aramco’s offering constituted 94% of the total value offered for the year.

GCC Equity Primary Offerings: 2016 –August 31, 2022

Total value by country

In the period from 2016 - August 31, 2022, Saudi Arabia’s stock market witnessed both the highest number of IPOs and the largest total offering amount among GCC stock markets, with a total of $38.9 billion of proceeds through 60 IPOs. It is followed by the UAE with total equity primary offerings value of $14.5 billion through 11 IPOs.

Abu Dhabi Securities Exchange (ADX) accounted for 46 per cent of total UAE equity primary offerings with a total of $6.7 billion raised while the Dubai