{"id":90805,"date":"2024-10-23T00:00:00","date_gmt":"2024-10-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/23\/saudi-arabia-falls-behind-the-uae-in-terms-of-ipo-proceeds-in-3q\/"},"modified":"2024-10-23T00:00:00","modified_gmt":"2024-10-23T00:00:00","slug":"saudi-arabia-falls-behind-the-uae-in-terms-of-ipo-proceeds-in-3q","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/23\/saudi-arabia-falls-behind-the-uae-in-terms-of-ipo-proceeds-in-3q\/","title":{"rendered":"Saudi Arabia falls behind the UAE in terms of IPO proceeds in 3Q"},"content":{"rendered":"

Saudi IPO proceeds trail UAE:<\/strong> Saudi Arabia raised USD 512 mn from six IPOs in the 3Q, falling behind the UAE, which brought in USD 1.1 bn from a single offering, Zawya<\/a> reports, citing data from Kuwait Financial Center (Markaz). No other GCC markets saw any IPOs during the quarter. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

By the numbers:<\/strong> The seven IPOs in the UAE and Saudi generated a combined USD 1.7 bn in proceeds, up 6% y-o-y. Meanwhile, GCC issuers saw a dip in fundraising, securing USD 5.2 bn through 30 offerings in 9M 2024, compared to USD 6.8 bn raised from 29 offerings during the same period in 2023.<\/p>\n

Tadawul vs. Nomu: <\/strong>Of Saudi\u2019s total IPO proceeds, USD 459 mn came from Tadawul\u2019s main market, while Nomu contributed USD 53 mn. Together, these accounted for 31% of all IPO proceeds in the GCC in 3Q.<\/p>\n

Key listings:<\/strong> Arabian Mills<\/a> and Almajed Oud<\/a> each sold a 30% stake in IPOs on Tadawul\u2019s main market in October. Meanwhile, Tharwah HR<\/a>, ASG Plastic<\/a>, Al Ashghal Almoysra<\/a>, and First Avenue<\/a> debuted on Nomu during the quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

The GCC region recorded seven offerings last quarter<\/p>\n","protected":false},"author":1,"featured_media":90806,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[2419,10,29],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"fd0a21e5-c5c4-4cb7-9f56-079ed01fde78","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1196.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi Arabia falls behind the UAE in terms of IPO proceeds in 3Q 2024","related_issue":[90798],"teaser":"The GCC region recorded seven offerings last quarter","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.543effaf-340c-4d49-8e2e-aa3ec102236b.mp3"},"yoast_head":"\nSaudi Arabia falls behind the UAE in terms of IPO proceeds in 3Q - 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