MENA’s IPOs volume hikes 400% in Q1-22

MENA’s IPOs volume hikes 400% in Q1-22

The MENA region has witnessed a 400% year-on-year (YoY) leap in the number of companies listing their shares on stock markets, with 15 initial public offerings (IPOs) during the first quarter (Q1) of 2022. The IPOs’ proceeds totalled $4 billion in Q1-22, a hike of 1,242% compared to Q1-21, according to a press release citing the EY MENA IPO Eye report for the first three months (3M) of 2022. Saudi Arabia led the listing activity in Q1-22 with six IPOs on the Main Market of the Saudi Exchange (Tadawul) and seven IPOs on the Parallel Market (Nomu), raising $3.90 billion in proceeds. Moreover, Abu Dhabi Securities Exchange (ADX) saw the listing of which raised a capital of $1.10 billion through a private placement before listing on the ADX.. In addition, the Egyptian Exchange (EGX) completed the listing of the cosmeceuticals giant (Macro Capital), generating $82.70 million in the total IPOs proceeds. Meanwhile, the Boursa Kuwait Premier Market Index rose by 18% in Q1-22, while the Muscat Stock Exchange (MSX) recorded a slight increase of 1.80% with the listing of Barka Desalination Company (BDC). Meanwhile, said: