15 Mena IPOs raise $4bln in Q1, a 1,242% jump in value

15 Mena IPOs raise $4bln in Q1, a 1,242% jump in value

Saudi Arabia dominate listings

Saudi Arabia dominated listings activity in Q1 2022 with 6 IPOs on Tadawul’s Main Market and 7 IPOs on the Nomu-Parallel Market, for a total of 13 IPOs raising $ 3.9 billion in proceeds. The Nomu market offers lighter listing requirements, serving as an alternative platform for companies to go public, with investments restricted to Qualified Investors.

Within the GCC, the number of listings and their total value far exceeded that of previous years. In Q1 2020 the market saw only three listings with a combined value of $801 million, while Q1 2021 also saw three listings, with a combined value of $295 million. In 2022, there were 14 total listings across the GCC during Q1, which raised approximately $3.9 billion in proceeds.

Brad Watson, EY Mena Strategy and Transactions Leader, says: “It is clear that with an unprecedented surge in issuances in Q1 2022, Mena IPO activity is delivering new opportunities for investors and bucking the global trend. The breadth of industry sectors that have been listed also reflects a more widespread return to strong economic growth across the region, with IPOs in consumer cyclicals, technology, basic materials, healthcare and the energy sector. Saudi Arabia is currently the