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The Gulf’s equity capital markets boom is not slowing down with IPOs to take place in Saudi Arabia, Oman and UAE in the second half of 2024.
EFG Hermes’ head of ECM Ali Khalphey told Bloomberg that e-commerce and information technology companies are among those expected to go public.
Khalphey said his firm expects to work on five listings in Saudi Arabia, two in Oman, with private sector listings also expected in the UAE as well as one government-backed deal.
While the report did not name any specific firms, healthcare and consumer finance companies firms are also likely to go public, he said, with private sector deals ranging from $300-500 million.
More secondary offerings are also likely following deals by Saudi Aramco and Adnoc Drilling, he added.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
