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MENA IPO EYE Q3 2022
MENA IPO markets saw seven IPOs in Q3 2022, raising approximately US$1.5b in proceeds during Q3 2022. The total number of MENA IPOs in YTD 2022 is 31, an increase of 288% as compared with the same period in 2021.
The MENA IPO Eye report analyzes IPO activities in the MENA region on a quarterly basis. It compares deals and volume to previous quarters, highlights recent developments, and notes key changes to regulations.
In Q3 2022, MENA IPO markets continued their strong run, with seven IPOs raising approximately US$1.5b in proceeds during Q3 2022. Salik Company PJSC raised over US$1b, becoming the largest MENA IPO during Q3 2022. In Saudi Arabia, five IPOs raised US$490m during Q3 2022 — Alamar Foods Company with US$326m, Naqi Water Company raised US$110m and the remaining three IPOs were on the Nomu-Parallel Market, where Saudi Networkers Services Ltd, International Company for Human Resources and Naba Alsaha Medical Services Company raised approximately US$54m in total. IPO activity also returned to Morocco for the first time since last year, with Disty Technologies SA raising approximately US$17m on the Casablanca Stock Exchange.
This brings the total number of MENA IPOs in year-to-date (YTD) 2022 to 31, an increase of 288% as compared with the same period in 2021 which was also a very busy period. Total proceeds raised for MENA IPOs in YTD 2022 were approximately US$14.7b, an increase of 550% as compared with the same period in 2021.