UAE, Saudi Arabia to lead IPO Mena markets: EFG Hermes

UAE, Saudi Arabia to lead IPO Mena markets: EFG Hermes

The IPO markets in Mena have seen strong momentum last year led by GCC countries, especially UAE and Saudi Arabia, says Karim Awad, group chief executive officer of EFG Hermes Holding

Published: Mon 6 Mar 2023, 9:44 PM

EFG Hermes Holding has announced that it expects the UAE and Saudi Arabia to lead the initial public offering (IPO) markets in the Middle East and North Africa (Mena) in 2023.

‘’The IPO markets in Mena have seen strong momentum last year led by GCC countries, especially UAE and Saudi Arabia,'' said Karim Awad, group chief executive officer of EFG Hermes Holding, on the sidelines of the 17th EFG Hermes One-on-One Conference in Dubai, attended by senior government officials, high-profile regional business leaders, investors, and listed companies.

He said that his group is working on five diverse sectoral IPOs in the GCC market which will be launched between the second and fourth quarters of the year.

Headlined “Outplaying Challenges,” the conference hosted thousands of one-on-one meetings between executives representing some of the region’s most compelling prospects and regional and global institutional investors, allowing them to gain insights into key trends impacting frontier and emerging markets today to explore value-accretive investment prospects.

This year’s conference, which will run until