Saudi Arabia led the IPO
activity in the Mena region with three listings on the main market in Q2 2019 with net proceeds of $1,023.4 million.
Investors who wish to take part in the LSI program of an IPO
should create an account here: PSE EASy.
This was also the first time that CDC introduced the IPO
facilitation Account, an additional facility through which investors can subscribe securities even if they do not have CDC Account at the time of IPO
Saudi Arabia witnessed two IPOs
in Q4 2018, including Alkhabeer REIT which raised US$64.1m and the National Company for Learning & Education which raised US$66.7m.
Initial public offering (IPO
) activity slowed down in the GCC in 2018 compared to the previous year both in terms of volume and value, and companies will largely look to oil prices and secondary equity markets before going public in 2019, an analyst says.
Table 2 reports the descriptive information on 419 Malaysian IPOs
, listed from January 2000 to December 2015.
According to the report, Saudi Arabia led the MENA IPO
activity in Q3 with the IPO
of Leejam Sports Company on the Saudi Stock Exchange, which raised $220.6m, making it the biggest IPO
in the Q3.
Oman was the only other GCC country with IPO
activity in the second quarter; the Muscat Securities Market (MSM) recorded a single IPO
in the quarter raising US$12.8mn.
activity across the MENA region witnessed a 60 per cent surge in volume year-on-year in the fourth quarter of 2017.
Steve Drake, head of PwC's Capital Markets and Accounting Advisory Services in the Middle East, said GCC IPO
activity ended 2017 on a high, supported by government policies and improved market conditions.
Compared to the same period last year, the number of IPOs
and proceeds raised in Q4 2017 is considerably higher with $2.5 billion from a total of eight floats, compared to only $37 million raised from one IPO
in Q4 2016.