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  • 20-01-22

    Saudi Arabia takes 1st rank in GCC region regarding initial public offering issuances

    (MENAFN) Based on Kamco Invest report, Saudi Arabia outdid the Gulf area regarding initial public offering issuances during the previous year, with 15 out of 20 GCC IPOs performing on Tadawul’s major and corresponding exchanges.

    The report also shows that the country’s authority regarding IPO proceeds, in a rank of nearly 62 percent of the offerings at about USD4.65 billion in 2021.

    Saudi utility provider ACWA POWER recorded the area’s biggest IPO in 2021, after its float made USD1.21 billion. Followed by Abu Dhabi Securities Exchange, standing at USD2.63 billion.

    The GCC nations have also been prominent regarding IPOs throughout the year 2021, amounting at 20, increasing from 7 in last year.

    MENAFN20012022000045013568ID1103567277

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