GCC stock markets raise $5.3bln in IPOs during H1 2023

GCC stock markets raise $5.3bln in IPOs during H1 2023

GCC IPO Pipeline:

MBC Group is said to be planning to meet investors for its IPO in the Saudi market and working with HSBC Holdings Plc and JPMorgan Chase & Co. on the planned share sale. Professional Medical Expertise Company has set the share offering price range for its IPO on Tadawul at SAR 63-68. The company plans to float 1.05 million ordinary shares, or 30% of the issued capital, on Nomu-Parallel Market. The book-building process for qualified investors will run between July 9-16. Marble Design Company intends to float 600,000 shares, or 10% of its SAR 60 million capital, on Nomu-Parallel Market. The book-building process for qualified investors will run from July 23-27. Investcorp Holdings, a Bahrain-based alternative asset manager, is planning a $600 million IPO of its investment vehicle Investcorp Capital in Abu Dhabi as soon as September. Amanat Holdings, a Dubai-based healthcare and education investment firm, confirmed it is assessing monetization options for its healthcare platform, including a possible regional IPO in the near term.

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About Kuwait Financial Centre “Markaz”

Established in 1974, Kuwait Financial Centre K.P.S.C “Markaz” is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over