UAE Business: 24 MENA IPOs raise $13.5 billion in H1 2022; huge jump in value – Gulf Digital News

UAE Business: 24 MENA IPOs raise $13.5 billion in H1 2022; huge jump in value – Gulf Digital News

The MENA region witnessed a 500% year-on-year increase in the number of companies listing during H1 2022 with 24 IPOs raising proceeds of $13.5 billion – an increase of 2,952% in value when compared to the same period in 2021, said a report.

During the second quarter of 2022, MENA saw nine IPOs raise, approximately $9 billion in proceeds. Although the number of IPOs decreased by 40% when compared with Q1 2022, the proceeds raised increased by 133%, said the latest EY MENA IPO Eye report.

Globally, 630 IPOs raised $95.4 billion in proceeds during H1 2022, which is a significant drop of 46% in the number of IPOs and 58% in the proceeds raised, as compared to H1 2021. Heightened volatility caused by geopolitical tensions and macroeconomic factors, declining valuation and poor post-IPO share price performance led to the postponement of many global IPOs during the first half of 2022.

Brad Watson, EY MENA Strategy and Transactions Leader, says: “MENA IPO activity continues to defy global trends and remains a bright spot in a challenging market. The number and value of deals in the second quarter of this year confirms that investors still have an appetite for growth, yield and diversification. Several