IPO requests in Saudi Arabia rise by 30%
- Date: 20-Feb-2024
- Source: AGBI
- Sector:Financial Markets
- Country:Saudi Arabia
IPO requests in Saudi Arabia rise by 30%
Saudi Arabia’s Capital Market Authority said this week that it had received 56 initial public offering applications, a number well ahead of analysts’ expectations. State oil major Saudi Aramco is also likely to issue a bond this year. CMA chief Mohammed ElKuwaiz told a capital markets forum in Riyadh on February 19 that the applications […]
Number beyond analysts’ predictions
Saudi Aramco likely to issue bond
Tenures up to 50 years a priority
Saudi Arabia’s Capital Market Authority said this week that it had received 56 initial public offering applications, a number well ahead of analysts’ expectations.
State oil major Saudi Aramco is also likely to issue a bond this year.
CMA chief Mohammed ElKuwaiz told a capital markets forum in Riyadh on February 19 that the applications were a 30 percent increase on last year, covering the main Saudi stock market and the parallel market Nomu.
Gulf markets attracting more international investors
Appetite high for Aramco’s $10bn second listing
Stock-picking in Chinese, American and Middle Eastern markets
Businesses from Saudi Arabia and the UAE are expected to dominate Middle East IPOs in 2024, according to a recent report by consultants EY.
Before the Saudi announcement, EY only expected 30 IPOs across the Middle East and North Africa region.
Ziad Al-Murshed,