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Saudi Arabia Leads Middle East IPO Activity with $330 Million in Q3 2023
Saudi Arabia Leads Middle East IPO Activity with $330 Million in Q3 2023

Saudi Arabia Leads Middle East IPO Activity with $330 Million in Q3 2023

In the third quarter of 2023, Saudi Arabia asserted its dominance in the Middle East’s public offering landscape. The Kingdom saw the majority of IPO activity in the region, with five out of six companies listed coming from its burgeoning financial markets, accumulating a substantial $330 million in the process.…

Saudi Minister of Energy, Industrial and Mineral Resources Khalid al-Falih arrives for the opening ceremony of the Qatari and Saudi Economic Forum on November 6, 2016 in Riyadh. / AFP / FAYEZ NURELDINE (Photo credit should read FAYEZ NURELDINE/AFP/Getty Images)

SAUDI ARAMCO IPO FORMALLY PUT ON HOLD

An August 22 report by Bloomberg said Saudi Aramco has formally put an initial public offering on hold while the company focuses on buying a strategic stake in Saudi petrochemical group, Sabic, for as much as $70 billion. However, while the Sabic deal will delay the IPO, it doesn’t mean…