{"id":611852,"date":"2023-12-13T00:00:00","date_gmt":"2023-12-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/13\/the-gulf-ipo-boom-shows-no-signs-of-slowing\/"},"modified":"2023-12-13T00:00:00","modified_gmt":"2023-12-13T00:00:00","slug":"the-gulf-ipo-boom-shows-no-signs-of-slowing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/13\/the-gulf-ipo-boom-shows-no-signs-of-slowing\/","title":{"rendered":"The Gulf IPO boom shows no signs of slowing"},"content":{"rendered":"

Investors pile into Gulf IPOs:<\/strong> The IPOs of Saudi broadcaster MBC and Emiratihealthcare firm PureHealth have attracted a combined USD 86.5 bn in bids as investor demand for Gulf companies continues apace. <\/p>\n

#1- PureHealth prices shares in c. USD 1 bn ADX listing:<\/strong> The ADQ-owned company has priced its IPO at AED 3.26, putting it on course to raise AED 3.62 bn (USD 986 mn) from its share sale on the ADX, it said<\/a> yesterday. The company wrapped up book building on Monday attracting orders worth AED 265 bn (USD 72 bn), with the institutional offering closing 54x oversubscribed and the retail component 483x the shares on offer.<\/p>\n

FYI- <\/strong>PureHealth is the UAE\u2019s second-largest IPO this year after Adnoc Gas\u2019 USD 50 bn sale<\/a> in March.<\/p>\n

#2- MBC inches closer to Tadawul debut: <\/strong>MBC has priced its shares at the top of the range at SAR 25 a piece<\/a> in its ongoing IPO in Riyadh, valuing the company at SAR 8.1 bn, it said in a statement (pdf)<\/a> yesterday. The institutional offering, which wrapped on 6 December, drew SAR 54.5 bn (USD 14.5 bn) of orders and closed 66x oversubscribed.<\/p>\n

Retail investors up next: <\/strong>Retail investors will be able to place orders from tomorrow through 18 December. The company is expected to debut on the Saudi stock exchange in early 2024, according to a document seen by <\/a>Bloomberg<\/a>.<\/p>\n

ALSO WORTH NOTING-<\/strong><\/p>\n