Saudi’s IPO market has been a “star performer” in the region, with a strong lineup of new listings on the Tadawul in 2024 rising on their debuts and broadly remaining above their offer price, Bloomberg says. The positive performance of recent IPOs in the Kingdom compares to recent disappointing debuts in other markets, including Talabat Holding and Lulu Retail in Dubai, as well as OQ Base Industries in Oman.

Outperforming regional peers, despite a handful of weaker debuts: “While not all Saudi listings have done well over the past 12 months — including three flour millers and a real estate investment trust which are still below offer price — stocks that went public in the kingdom have seen more first-day pops and better after-market performance than in any other Gulf bourse,” Bloomberg says, citing its own data.

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